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  • Silver Lake Resources Adds Van Eck Associates As Substantial Shareholder  0 comments
    Jun 26, 2013 2:26 AM

    Silver Lake Resources (ASX: SLR) has added highly regarded U.S. fund manager Van Eck Associates Corporation as a substantial shareholder in the company with a 6.46% stake.

    Van Eck, which holds 24,472,291 shares, had acquired 24,467,542 shares for a total consideration of $16.64 million last week. This represents an average price of about $0.68 per share.

    Van Eck is a U.S.-based asset management firm with more than five decades of global investment expertise. It offers actively managed investment choices in hard assets, emerging markets, precious metals and fixed income classes.

    It also manages assets on behalf of more than 350 institutions including endowments, foundations, hospitals, pensions, and private banks.

    Silver Lake had earlier this month declared commercial production at its Murchison Gold operations, giving it two commercial projects in Western Australia.

    The company is ramping up production to 6,000 ounces per month in the September 2013 quarter from the current 5,000 ounces with the introduction of higher grade feed from underground ore driving.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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