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Silver Lake Resources Continues To Shine

Silver Lake Resources' (ASX: SLR) shares have continued their climb back, and have soared 12.2% intra-day to $1.025 - as the company benefits from a rising gold price and cost reductions.

Providing a vote of confidence in Silver Lake's operations is that the well-regarded gold stock picker Baker Steel Capital Managers has been acquiring shares.

A notice of initial substantial shareholder earlier in the month showed that Baker Steel had acquired 19,775,500 shares over a period of time, equal to 5.2% of issued ordinary capital.

Recent purchases by Baker Steel were conducted between the 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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