SLR shares fall after the company withdraws guidance

Apr 28, 2022

Silver Lake Resources Limited (ASX: SLR) share price fell around 8% after the company withdrew its FY22 sales guidance due to the severe disruption of COVID-19 related labor shortage in March and April and supply chain constraints.

The company has highlighted that its YTD operating performance makes silver lake positioned to meet its F22 guidance, but however, it is not able to forecast Q4 operating performance with an acceptable level of confidence for stakeholders to rely on.

March 2022 Quarterly Highlights:

  • SLR produced 53,822 ounces gold and 262 tonnes copper during March 2022. It sold 55,390 ounces gold and 246 tonnes copper at an average sales price of A$2,493/oz and AISC of A$1,634/oz.
  • Sugar Zone acquisition completed on 18 February 2022. SLR started holistic review of the mine, exploration priorities, project priorities and operating strategy.

At AEST 1:26 PM, SLR shares are trading at AU$1.832, down 8.375% from the previous close.

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