Group gold production was up 2.1% over the December quarter to 61,152 ounces while group gold sales increased 2.2% over the period to 62,265oz.

At the Mount Monger operations in Western Australia, it included a 2.9% quarter-on-quarter increase in mill production and a 3.9% quarter-on-quarter decrease in mine production.

At the company’s Murchison operations, also in WA, mill production was down 0.8% on the previous quarter at 13,224oz while mine production was only slightly higher at 15,993oz.

Silver Lake reduced its gold production guidance at Murchison from 60,000-70,000z to 45,000-50,000oz as a strategic review of the operation continues.

Guidance was increased, however, at Mount Monger from 120,000-130,000oz to 150,000-170,000oz of gold as the Lakewood and Randalls mills continued to be fed with underground ore from the Daisy complex, small quantities of ore from the project’s Cock-eyed Bob underground development and open pit ore from the Maxwells deposit.

This progress has contributed to an increase in group guidance from 180,000-200,000oz to 205,000-220,000oz of gold.

All-in sustaining cash costs at Mount Monger were 0.6% higher over the quarter at $A49.2 million.

Meanwhile, all-in sustaining cash costs at Murchison were down 5.9% at $26.8 million despite the capital deferments due to lower gold prices leading to limited access to higher-grade ores.

Cash and bullion on hand was down 33.6% over the quarter to $17 million, while debt was reduced from $20 million to $8 million.

Shares in Silver Lake were last trading 10.3% higher at 64c.