Silver Lake Resources Reports Strong Fourth Quarter and FY23 Sales Result Silver Lake Resources Limited

Silver Lake Resources Reports Strong Fourth Quarter and FY23 Sales Result

Silver Lake Resources Limited (ASX: SLR), a gold producer and explorer with operations in Western Australia, has announced its sales results for the fourth quarter and full year of the financial year ended 30 June 2023. The company has reported impressive figures, indicating a successful period for its gold production and revenue generation.

During the fourth quarter, Silver Lake Resources achieved record sales of 83,540 ounces of gold equivalent at an average realised price of A$2,579 per ounce. These sales generated substantial revenue of A$215. 5 million and a remarkable cash margin of A$1,095 per ounce.

For the full year, the company reported sales of 260,370 ounces of gold equivalent at an average realised price of A$2,507 per ounce, generating revenue of A$652. 6 million.

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The full year's cash margin stood at A$1,034 per ounce, indicating a healthy profitability for the company.

Silver Lake Resources also displayed strong financial performance, with a robust operating cash flow of A$269. 4 million for the full year. This represents a 14% increase compared to the previous financial year. Additionally, as of 30 June 2023, the company reported a net cash position of A$258. 7 million, underscoring its financial stability.

The company continues to prioritise investment in exploration and development activities across its three operating hubs: Mount Monger, Deflector, and Rothsay. This commitment ensures the continuous growth and sustainability of its operations.

Looking ahead, Silver Lake Resources has maintained its sales guidance for the fiscal year 2023. The company expects to achieve sales between 260,000 and 290,000 ounces of gold equivalent. The all-in sustaining cost (AISC) for the forecasted sales range is estimated to be between A$1,850 and A$2,050 per ounce.

Silver Lake Resources' impressive sales results, robust financial performance, and continued investment in exploration and development activities position the company for a promising outlook in the gold market.

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