Gold producer Silver Lake Resources (ASX: SLR) has received a vote of confidence with a notice of initial substantial shareholder from Baker Steel Capital Managers which acquired 19,775,500 shares over a period of time equal to 5.2% of issued ordinary capital.
Well regarded Baker Steel Capital is known for its stock picking in the gold sector.
Recent purchases by Baker Steel Capital included were made between 17th April 2013 and 1st August 2013, with the most recent purchase price made at around $0.80.
Silver Lake has a large gold resource base with significant upside, including 6.4Moz resource inclusive of 1.7Moz of reserves.
The company's portfolio in Western Australia includes 5000 square kilometres of highly prospective under explored tenements containing gold, silver, copper & zinc.
During the June quarter 2013 Silver Lake produced 55,600 gold ounces, with an 83% increase in group full year gold production to 151,296 gold ounces.
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