Silver Lake Resources’ directors increase shareholdings on market Friday, March 01, 2013 by Angela Kean
Silver Lake Resources (ASX: SLR) managing director Les Davis and non-executive chairman Paul Chairman have added to their respective holdings with on-market purchases.
Davis picked up an extra 10,000 shares for A$2.13 per share, or a consideration of 21,300, taking his total shareholding to 4.21 million shares.
Meanwhile, Chapman bought a further 20,000 shares for a consideration of $42,800, increasing his shareholding to 4.8 million shares.
With the start of production at its second gold mining operation at its Murchison Gold Project, Silver Lake Resources is making solid progress towards achieving its target production of over 400,000 ounces per annum.
The company marked its first gold pour at the Murchison Project last Friday.
Silver Lake now has two production centres and three mills operating with an annualised capacity of 3.3 million tonnes being fed from multiple ore sources.
The Murchison gold operations consists of multiple mines feeding a central 1.2 million tonne per annum processing facility and has a current resource of 20.5 million tonnes at 2.9 grams per tonne for 1.9 million ounces of gold.
In total, Silver Lake has JORC Resources of 6.6 million ounces and Reserves of 1.8 million ounces.
SLR Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
