Silver Lake Resources Ltd.’s Strong operating cash flow
Strong operating cash flow: Silver Lake Resources Ltd.’s (ASX: SLR) stock plunged 4.6% on September 21, 2017 at the back of gold price sinking. For FY17, SLR reported revenue of $227.5 million (2016: $209.5 million) while generating operating cash flow of $64.0 million (2016: $55.0 million). EBITDA (before significant items) increased by 23% to $70.0 million (2016: $56.7 million) due to 3% increase in gold sales from the Mount Monger Camp (137,000 ounces compared with 132,400 ounces in FY2016), which in turn led by an increase in open pit production following commencement of the Majestic open pit mine in FY2017. However, profit after tax for the year declined to $2.0 million against $4.4 million in the corresponding period.
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