Silver Lake reports $48 impairment
Silver Lake reports $48 impairment

Gold miner Silver Lake Resources will report an unaudited non-cash impairment of $48 million after completing a review of its operations.

The company said the result came in addition the $42 million impairments reported up to December 31 against the Murchison gold operations, which have since been placed on care and maintenance.

"The (latest) impairments are due to a number of factors including assessment of exploration and development assets at Mount Monger and the decision to place the Lakewood processing facility on care and maintenance," the company said in a statement.

"In particular, the Cock-eyed Bob and Maxwells underground deposits, which are currently under evaluation, have been assessed as long term development assets until firm plans to develop the mines are finalised."

Silver Lake also announced it has been decided to de-recognise deferred tax assets of $53 million.

The company's Mount Monger Operations are 50km south east of Kalgoorlie.

The West Australian

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