Silver Lake Resources Limited (ASX:SLR)
has claimed the wooden spoon as the worst performing stock on the Australian Securities Exchange in 2013. The West Australian focused gold mining company’s stock fell 83.9 per cent to $0.535 over 2013 in the same period the price of gold fell 28 per cent.
The year’s worst performing stocks were largely mining related with the materials sector itself falling 3.7 per cent as commentators called the end of the mining investment boom.
Taking the second worst performing spot was gold miner Resolute Mining Limited (ASX:RSG)
[Down 66.2 per cent in 2013] followed by Australia’s largest gold miner Newcrest Mining Limited (ASX:NCM)
[Down 64.8 per cent in 2013], mining services provider Forge Group Limited (ASX:FGE)
[Down 64.7 per cent in 2013] and gold and silver miner Evolution Mining Limited (ASX:CAH)
[Down 64 per cent in 2013].
Rounding out the worst ten performers was mining services provider Ausdrill Limited (ASX:ASL)
[Down 63.6 per cent in 2013], gold mining company Medusa Mining Limited (ASX:MML)
[Down 62.4 per cent in 2013], uranium miner Paladin Energy Limited (ASX:PDN)
[Down down 54.9 per cent in 2013], maintenance services provider Transfield Services Limited (ASX:TSE)
[Down 54.1 per cent in 2013] and gold and copper miner OZ Minerals Limited (ASX:OZL)
[Down 53 per cent in 2013].
Silver Lake Resources fell to a net loss of $319 million in the 2013 financial year.