News: Silver Lake Resources appoints Luke Tonkin as managing director

Silver Lake Resources’ (ASX:SLR) executive director operations Luke Tonkin has been appointed its managing director with effect from 20 November 2014.

Founding managing director Les Davis will retire from his position on 19 November 2014 after serving in this role for more than 7 years since May 2007.

Davis will remain a non-executive director of the company.

Tonkin has a sound understanding of Silver Lake’s operations and has already made a significant contribution to the company.

This includes the orderly placement of the Murchison Gold Operations and the Lakewood Mill on care and maintenance.

Silver Lake’s Mount Monger Operations near Kalgoorlie, Western Australia, generated positive cashflow of $61 million for the financial year ended 30 June 2014.

This was achieved on the back of full year gold sales of 172,838 ounces at an all in sustaining cash cost of $1,070 per ounce.

It also repeated gold sales guidance for the 2015 financial year of 125,000 to 135,000 ounces of gold.