Managing Director Les Davis outlines Silver Lake Resources’ performance since inception. Today the company has $97.7 million cash and bullion on hand with no debt and no hedging. The gold producer and explorer has three large gold projects based in Western Australia.
Mount Monger, located 50 kilometres south-east of Kalgoorlie, has a 1.5 million ounce resource base at a high grade of 8.9 grams per tonne. The mine life is expected to be ten years.
Murchison, located 600 kilometres north of Perth, has a 1.7 million ounce resource base at 2.8 grams per tonne. Production is scheduled for the third quarter of the 2013 financial year. Also in the Murchison, the company has made a new high grade copper discovery at Hollandaire.
The company is in the process of merging the assets of Phillips River Mining Limited (ASX:PRH) into Silver Lake, called the Great Southern Gold Project, located 450 kilometres south-east of Perth. The Kundip resource could be a potential third production centre within the next two to three years.
