June quarter gold production was 62,126 ounces of gold and 445 tonnes of copper, or 64,302oz of gold equivalent.

All-in sustaining costs were A$1478 an ounce.

Mount Monger produced 36,757oz at AISC of $1639/oz, while Deflector produced 25,369oz of gold and 445t of copper at AISC of $1254/oz of gold.

Ore stockpiles at Mount Monger increased by 17,000oz to 115,500oz to provide a buffer for FY22 given the tight labour market.

The Deflector carbon-in-pulp project was completed on schedule and on budget during the June quarter, with commercial production at the new Rothsay mine declared from July 1.

Full-year gold production was 242,478oz of gold and 1690t of copper.

AISC of $1484/oz was within guidance of $1400-1500/oz.

Full-year sales were 248,781oz of gold and 1724t of copper at an average price of $2315/oz of gold, at the top end of guidance of 240,000-250,000oz of gold and 1600t of copper.

Sales guidance for FY22 was set at 235,000-255,000oz of gold and 600-1000t of copper at AISC of $1550-1650/oz.

It was below Argonaut's forecast of 260,000oz.

"Silver Lake has form in guiding low, and there is a precautionary element due to labour shortages," analyst John Macdonald said.

"Silver Lake has two years of (1.2gpt) mill feed stockpiled at surface Mt Monger, and is inclined to use it more than previously planned this FY instead of pushing the mines.

"The company has also given itself a year to ramp up Deflector and Rothsay following the expansion."

Silver Lake closed the quarter with $330.2 million, including gold in circuit and on hand of $11.1 million, up by $10 million after the company spent $33.8 million on growth and exploration.

Shares in the company dropped as low as $1.565, a three-month low, and were trading 9% lower at $1.605 late in the session.

Argonaut has a hold rating and $1.69 price target.