Silver Lake Resources

Silver Lake’s half year results were spectacular. Gold production rose 37% to 38,500 ounces and, combined with higher gold prices, helped revenue rocket 66% higher to $67.6m. Net profit after tax rose 185% to $17.1m, translating to earnings per share of 9.4 cents. Net operating cashflow jumped 130% to $33.5m and, despite spending $20m a year on exploration, the company’s cash pile sits at $93m. A special dividend is possible at some point. Table 1: Silver Lake's half-year results Half-year ending 31 December 2011 2010 Change (%) Revenue ($m) 67.6 40.7 66 NPAT ($m) 17.1 6.0 185 EPS (cents) 9.4 3.3...

Silver Lake’s half year results were spectacular. Gold production rose 37% to 38,500 ounces and, combined with higher gold prices, helped revenue rocket 66% higher to $67.6m. Net profit after tax rose 185% to $17.1m, translating to earnings per share of 9.4 cents. Net operating cashflow jumped 130% to $33.5m and, despite spending $20m a year on exploration, the company’s cash pile sits at $93m. A special dividend is possible at some point.

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