Mother Of God, wait for the re-rateSilver Lake Resources Limited...

Mother Of God, wait for the re-rate

Silver Lake Resources Limited (“Silver Lake” or the “Company”) is pleased to report its financial results for the half year ended 31 December 2019. 1H FY2020 highlights  98% increase in gold production to 132,879 ounces gold equivalent1  82% increase in gold sales to 127,459 ounces gold equivalent1  372% increase in EBITDA1 to $116.8 million (1H FY19 $24.7 million), with a 119% increase in EBITDA margin to 45%  1,117% increase in normalised profit after tax1 of $48.7 million (1H FY2019: $4.0 million)  1,014% increase in statutory profit after tax of $44.6 million (1H FY2019: $4.0 million)  232% increase in cash flow from operations to $98.6 million (1H FY20: $29.7 million)  Cash and bullion balance increased by $55.4 million to $186.1 million at 31 December 2019 (30 June 2019: $130.7 million) with no debt. In addition, Silver Lake had $10.3 million of gold in circuit and concentrate on hand and listed investments of $5.2 million at period end  Hedge book at 31 December totals 154,532 ounces at A$1,900/oz for delivery from FY20 – FY22  $13.3 million investment in exploration, focused on Mineral Resource to Reserve conversion and advancing the pipeline of prospective opportunities  Acquisition of Egan Street Resources completed in January 2020  FY20 group sales guidance upgraded to 240,000 to 250,000 gold equivalent1 ounces (215,000 to 230,000) at lower average AISC of A$1,300 to A$1,350/oz (A$1,375 to A$1,450/oz)