# SLR - Silver Lake Resources



## Uncle Festivus (26 November 2007)

> Symbol SLR
> Issuer Name SILVER LAKE RESOURCES LIMITED
> Security Description ORDINARY FULLY PAID
> 
> ...



Silver Lake Resources Limited (“Silver Lake”) is pleased to announce that it has successfully completed its Initial Public Offering (“IPO”) of 100 million shares at an issue price of 30 cents per share raising gross proceeds of $30 million.  Silver Lake has been admitted to the official list of ASX and commenced trading at 2.00pm EDST on 14 November 2007. 

Silver Lake is an emerging gold producer and exploration company with a resource base of 830,000 ozs of gold across its portfolio of assets including the Mount Monger goldfield and its Murchison projects (Moyagee, Tuckabianna and Rothsay). Silver Lake has targeted projects with certain attributes including: 

•  Dominant position in a highly prospective region 
•  Sound economic indicators 
•  Near term production ability 
•  Existing JORC resources with significant growth potential 
•  Lack of prior systematic exploration 

Proceeds raised under the offer will be used to finalise the purchase of Silver Lake’s projects, re-open the Daisy Milano mine to recommence gold production and advance the neighbouring exploration program.


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## daggs (31 March 2008)

A fair bit happening in the next few months,one to watch IMHO
Here's a summary of recent activity at Silver Lake. (From company announcements)

Highlights
• Daisy Milano ore production to date exceeds 4,000 gold oz
• Underground drilling at Daisy Milano provides numerous high grade intersections
• Near mine exploration under way at Caledonian and Haoma
• Lakewood Gold Processing Facility modification and refurbishment programme on schedule
• Lakewood Gold Processing Facility commissioning strategy in place and scheduled for late March/early April

The Comet tenements contain a JORC Indicated Resource of 1.44 million tonnes at 3.0 g/t Au for 154,000 oz; and an Inferred Resource of 374,000 tonnes at 5.8 g/t Au for 77,000 oz. The acquisition will increase Silver Lake’s total gold Resource to 5.70 million tonnes at 5.3 g/t Au for 1,060,000 oz.

Underground Infill Drilling at Daisy Milano;
These results include numerous high grade instersections and are consistent with the resource grade of 33.5 g/t. Figure 1 below shows the position of these intercepts.

As well as this drilling, there has been substantial work reviewing historical data to improve the geological understanding at Mount Monger and as a consequence the Company expects to announce an upgraded resource in late March 2008.

Approximately 90% of ore production to date has come from areas outside the current resource demonstrating the potential for further increasing the resource base.

Near Mine Exploration 
The near mine exploration strategy has focused on finding additional orebodies close to existing Daisy Milano infrastructure. Progress to date includes:
• Caledonian trend: seven surface RC holes (1,945 m) of a planned sixteen hole programme have been completed. The balance of the programme will be completed by July 2008.
• Haoma trend: a twelve-hole underground drilling programme totalling 3,000 m at Haoma has commenced (see Figure 3). To date two holes totalling 390 m are complete. The Haoma trend was historically mined at a grade of 28.9 g/t. However, the operator ceased mining at the boundary to their lease holding. Now that Silver Lake controls the consolidated Mount Monger region, there is no impediment to mining the down plunge extent of previous workings. This drilling programme will test the viability of resuming mining at Haoma.

TimingActivity

March 2008; Installation of new mine compressors and commencement of two additional air leg miners

March 2008 to September 2008; Extend Mount Monger decline to 21 level and complete drilling between 21 and 25 levels

Late March 2008; Complete Lakewood Gold Processing Facility modification and refurbishment programme

Late March 2008; Implement Lakewood Gold Processing Facility commissioning strategy using low grade stock feed

Late March 2008; Announce new resource at Mount Monger

April 2008; Commence feeding Daisy Milano high grade ore stock

Late April 2008; Caledonian & Haoma trends – receive initial assay results

May to July 2008; Caledonian & Haoma trends – complete drill programmes

July 2008; Ramped up to 35,000 to 40,000 oz per annum rates
Assay results are expected for the completed holes by late April 2008.


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## Kobsy (9 April 2008)

I live in Kalgoorlie WA and supply fuels and lubricants to Silver Lake resources. Top grades, able to deliver on targets thus far and have a very dominant position in the Goldfields region of Western Australia. Smack bang next door to Integra Mining also  One to watch yes imo


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## daggs (10 April 2008)

G'day Kobsy,

Good to have some positive feedback from a local. 
fuel deliveries around Kal, sounds like the perfect job for a share trader


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## daggs (10 April 2008)

ann out today,

Highlights
• High grade resource increase at Mount Monger extends estimated Daisy Milano mine life to five years
• Maiden high grade Measured Resource of 93,600 tonnes at 37.9 g/t Au for 114,100 oz at Daisy Milano
• Initial open cut Inferred Resource of 205,000 tonnes at 3.80 g/t Au for 25,500 oz with near term mining potential at Lorna Doone and Costello
• Overall increase in total resource to 5,931,300 tonnes at 5.8 g/t Au for 1,100,600 oz


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## Kobsy (11 April 2008)

Hey Daggs,

Yeah definately a local mate. Have lived in the Goldfields for 20yrs now but i wouldn't say i have the perfect job for a share trader... The perfect job for a share trader would be no job, trading shares profitably. LOL


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## ScottMG (30 April 2008)

First Gold pour out of the refurbished Lakewood facility today. A lot of upside to this company. A highly reputable management structure. Big tick Gold price heading in and upward direction. With the roadshow presentation happening around oz during May i'm sure more punters will jump aboard. Best of luck to all that hold. Today's price is 33c. I'm sure it will be closer to 50c by end of june 08


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## treefrog (1 May 2008)

from the Perilya website:


> In January 2005, Perilya acquired the Daisy Milano gold mine, southeast of Kalgoorlie.  Despite a successful first year of operationg under Perilya, extraction at Daisy Milano was suspended in March 2007 and the gold mine was put into care and maintenance while the divestment of Perilya's gold assets was finalised and the company refocused its strategy on base metals.
> 
> In August 2007, the gold assets comprising the Daisy Milano mine, and the Mount Monger, Moyagee and Honeymoon Well exploration projects were sold.




obviously SLR expect to make DaisyM profitable but so did PEM and PEM cut their teeth and made a very profitable start as a Co mining gold but couldn't make a go of DM. It appears to have been a significant factor in the demise of PEM's CEO who "resigned suddenly" recently

with SLR due to report their actuals againt target soon, should be a good gauge of SLR's capabilities/prospects

SLR 10dec 07 ann


> Silver Lake expects to produce 10,000 – 15,000 oz of gold from Daisy Milano by 30 June 2008, and ramp up to 35,000 – 40,000 oz of gold per annum production rates from 1 July 2008.


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## Kobsy (20 May 2008)

Silver lake gain 11% yesterday on high volume of around 600k compared to av. monthly vol of about 280k. opened this morning up 7%- 9% on continued higher volume. 

yay!!

Good luck to all holders

PS Anyone any idea's about the increase in volume.


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## Johno (30 December 2008)

This stock seems to be on the move. Any others out there hold this stock or have any opinions on its future? Its gained 35% in two days!


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## Miner (6 April 2009)

There was no posting on SLR _for last three months or so_

I recently read in Eureka Report about a BUY recommendation on SLR with a target price of 67 cents

Any researcher's comments please .

Attached the report


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## Mickyd (22 April 2009)

It's not often that I come across a gold miner that I feel compelled to buy. However SLR is the first to catch my eye in about 3 years. I'm excited but it's not for the resource or the production, it's for the excitement for making myself money. SLR have a very nice story and even with very conservative estimates, they stand to make at least $20M/Y in profit for a company with only a $50M market capitalisation. And that is the key to making money on this venture. The small market cap. The also have $14.5M in cash. 

SLR made $8million just last quarter. Thats not including the fact that only 40,000t of ore was milled when 45,000t was extracted. It also doesn't include $0.7M of gold unsold. However it was based on A$1400 gold price. Even with gold at A$1250, they would have made $6.7M for the quarter. 

SLR plan to extract 15,000t per month or 180,000t per year for the 300,000t processing plant. They also plan to bring Christmas Flats into production at a starting rate 10,000 oz per 6 months in June 2009. Just Daisy Milano alone is a 50-60,000 oz per year operation. 

Having a look over it's competitors and nothing comes close. Looking at other producers like HEG and CTO and the story looks extraordinary. CTO has a market cap of $140M, no cash and is losing $10-15M per year. HEG has a market cap of $46M and has yet to prove it can make a dollar and little cash. 

Instead of using poor examples, I will use a respected gold producer in DOM. DOM has a market cap of $546M and produced 109,000 ounces last year and plans to produce 105,000 ounces this year. DOM has $55M in cash and made about $33M profit last year. It also gave back $12.3million in dividends at 12cents per share. That's a dividend yield of 2.4%. DOM also carry a $9M burden from a "out of the money" hedge book. 

DOM's Challenger Mine has 727,860 oz in reserves and a total mineral resource of 1,159,830 oz with average head grade of 8.8g/t. Mine life is 7 years at current reserves and production. Concerns over SLR's 5 year mine life only need to look at DOM's early reserves. I feel SLR is about 3-5 years behind DOM in development. DOM only had 200,000 oz reserves when it was producing 50,000 ounces in 2004.

SLR's management is also reviewing dividends. An equivalent dividend to DOM would be only 1 cent per share. That would only cost the company about $1.1M per year. Remember DOM's market cap is 11 times larger than SLR's and has only about 2 times higher production rates and 3 times higher cash on hand. 


I have noticed Sprott Asset Management Inc have bought in recently and from accounts on other chat sites, they have a poor record. However a 17.12% return since 2001 is very good in my opinion considering the pain of last year. All funds were punished last year. It means little in the end anyway. 

On fundamentals alone, SLR should have a market cap above $100 million. That's double to current share price.


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## JTLP (22 April 2009)

Mickyd said:


> It's not often that I come across a gold miner that I feel compelled to buy. However SLR is the first to catch my eye in about 3 years. I'm excited but it's not for the resource or the production, it's for the excitement for making myself money. SLR have a very nice story and even with very conservative estimates, they stand to make at least $20M/Y in profit for a company with only a $50M market capitalisation. And that is the key to making money on this venture. The small market cap. The also have $14.5M in cash.
> 
> SLR made $8million just last quarter. Thats not including the fact that only 40,000t of ore was milled when 45,000t was extracted. It also doesn't include $0.7M of gold unsold. However it was based on A$1400 gold price. Even with gold at A$1250, they would have made $6.7M for the quarter.
> 
> ...




Wasn't one of their mines a problem for another company?

What are their total costs per ounce?

How much gold they got in them hills?

Thanks!

JTLP


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## Mickyd (23 April 2009)

JTLP said:


> Wasn't one of their mines a problem for another company?
> 
> What are their total costs per ounce?
> 
> ...




Yes, PEM did own the mine they are currently making money from. SLR bought the mine about 18 months ago and have turned it profitable. PEM had trouble making a profit.  That's what makes the team of ex-WMC guys even better. Turning a  "unprofitable mine" into a money pit. 

The company said operating cash costs were $488 p/oz and total cash cost  at $659 p/oz. However I say "real" cash costs at $782. 

SLR have a total of 1,473,100 ounces but should be built up in the coming years.


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## urgalzmine (25 May 2009)

Hey Everyone

I am very surprised that there is no topic for SLR? or did i not search hard enough. Anyways if there is a thread for SLR i apologise,


Lets get to the fun stuff. Can someone find me a company that has these prerequisites:

No debt
MC less than $80million
Produces 40 000 ounces per year
Sp below 60cents
cash in hand $14million
cost per ounce below $500 


You guessed it its SLR. 

Here is a little bit of history:
Silver Lake is a gold producer and explorer with a resource base of 1.5 million oz in highly prospective regions including the Mount Monger goldfield and the Murchison (Tuckabianna, Comet, and Moyagee). Silver Lake’s strategy is to develop large production centres at Mount Monger and at the Murchison with multiple mines at each centre. Silver Lake’s Mount Monger Operation contains the Daisy Milano mine located 50 km south east of Kalgoorlie. Mount Monger has multi mine potential underpinned by emerging open pit production from Christmas Flats.



What does anyone think ?


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## johannlo (25 May 2009)

It does look tasty doesn't it. But where did you get the no debt bit from? 70k in interest payments this quarter from the latest balance sheet. 

Agreed the cashflow is positive and looks like growing. Just hesitant about buying in at 'peak' prices so far. Does anyone want to do a rough valuation based on currently known deposits and production prices/margins?


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## urgalzmine (25 May 2009)

johannlo said:


> It does look tasty doesn't it. But where did you get the no debt bit from? 70k in interest payments this quarter from the latest balance sheet.
> 
> Agreed the cashflow is positive and looks like growing. Just hesitant about buying in at 'peak' prices so far. Does anyone want to do a rough valuation based on currently known deposits and production prices/margins?




The ann dated 12th may 2009, page 24, under finance its states that there is no debt.

have a read of the ann


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## johannlo (25 May 2009)

OK got it thanks. looking even better then lol

No idea then why in the march quarterly report under appendix 5b, under Repayment of borrowings they have (70k) for the quarter and (203k) for the FY so far. Investsmart has 7.7million total liabilities of which 6.1 is current (majority is trade creditors) though thats FY08 figures. 

And of that only 0.5million is borrowings so its entirely conceivable that by now that's been wiped. 

Thanks for pointing that out


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## Mad Jack McMad (29 May 2009)

SLR on a tear today - is this down to the Mt Monger drill results?

Silver Lake Resources Ltd (“Silver Lake”) is pleased to announce an update on
underground and surface drilling activities at its Mount Monger Operations.
Silver Lake has conducted an eight hole underground drilling program from the Daisy
Milano mine 8 level (approximately 250 metres below the surface) targeting the
Rosemary orebody located approximately 130 metres to the east.
During this programme as well as confirming the location of the Rosemary structure, two
additional structures were intersected approximately 40 and 85 meters from Daisy Milano
respectively.
These structures show sericite pyrite alteration with some intercepts containing visible
gold (Refer to Figure 1). The area defined by this programme is approximately 150 lateral
metres by 40 vertical metres. Drilling in the area is planned to resume once assays have
been returned from this current underground programme in late July 2009.

http://clients.weblink.com.au/clients/silverlakeresources/article.asp?asx=SLR&view=6448324


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## Mad Jack McMad (2 June 2009)

More rises for SLR - 

Research note

http://www.silverlakeresources.com.au/files/files/108_SLR19may08v2.pdf

Quote
"SLR has a target of producing at 150,000ozpa within 3 years (2011), which could be achievable, based on possibly 50,000ozpa to 70,000ozpa from Mount Monger and a mining operation at Comet/Tuckabianna (although Mount Monger could be capable of achieving 100,000ozpa in its own right).
•
SLR appears to have significant upside potential with both of its current main project areas of Mount Monger’s Daisy-Milano, and Comet/Tuckabianna apparently capable of exceeding expectations in production and grade. Also on a market cap comparison basis to its peers, SLR appears to be well undervalued and capable of achieving a market cap > A$120m."


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## wanlad1 (14 January 2010)

SLR is looking quite strong, came back to base filled the gap and now looks to retest the old high.  POG holding its value should also add value to the stock.


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## wanlad1 (15 January 2010)

Just thought the I would paint the picture with a chart. Possible *bullish flag* forming, *gap filled* from lift off. The blue is the Acc/Dist indicator this demonstrates *accumulation* and strongly held.

The recent set back of this particular rally tested the *50% fib retrace*, which is where the gap was filled. Looks to be back on her way up from here.


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## wanlad1 (18 January 2010)

After a few days in the secondary trend down, a doji day. SLR responds very well to Doji's as I have attemted to illustrate in the chart below.

Primary trend is up and intact, possible cup & handle formation forming, which is a contiuation pattern of an uptrend.

It has been made known by another trader that Pattersons have put a buy on SLR today at 1.11


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## goldenale (12 July 2010)

Good to see Silver Lake Resources acquiring to their Mt Monger Project in WA;-)

They can concentrate their flagship while Cortona Resources concentrates their Majors Creek Project


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## Miner (4 May 2011)

OMG there was no posting on SLR thread for 10 months.
for the SLR followers I am putting an extract from a financial paid weekly (Insider Trading) and hope with 2% extract from a full write up I am within copyright provision. 

DYOR 

" _Price: $1.94
Risk: Medium
Target: $2.50
Timeframe: medium term investment with possible short term trading opportunities

Silver Lake Resources is a W.A. Gold miner with plenty of potential with a variety of gold mines, their own processing plant and increasing resources.

The price has fallen around 50c just recently and we consider this to be a good buying opportunity.

The high Aussie dollar has been affecting the effective price of gold in Australian terms recently and this has had some affect on gold miners recently however, the price of gold is still very high and looking strong.

Silverlake currently has no debt and no hedging_."


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## mr. jeff (4 May 2011)

HI Miner,
I watch SLR quite closely. they are a good producer, I have been waiting for some sort of price catalyst before getting back into these guys, they are professional have reliable production and are making great money, decent margins. 
Probably should have updated their production etc. but there is not much here that has changed from 6 months ago, they have been quietly producing and no doubt with a smug grin about the gold price.

Completely ridiculous, but as gaps need filling, it looks like SLR will have to head on back to 1.75, fill that then get going again!


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## Miner (4 May 2011)

mr. jeff said:


> HI Miner,
> I watch SLR quite closely. they are a good producer, I have been waiting for some sort of price catalyst before getting back into these guys, they are professional have reliable production and are making great money, decent margins.
> Probably should have updated their production etc. but there is not much here that has changed from 6 months ago, they have been quietly producing and no doubt with a smug grin about the gold price.
> 
> Completely ridiculous, but as gaps need filling, it looks like SLR will have to head on back to 1.75, fill that then get going again!




thanks Mr Jeff.
I will keep an eye on SLR to drop further


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## mr. jeff (10 November 2011)

This stock has shown a great performance over the year.
Announcement today is amazing.

"ASX ANNOUNCEMENT 10 November 2011
High Grade Copper Discovery At Hollandaire
Copper grades up to 45% in massive sulphide zones
Deposit contains Copper, Gold & Silver
Highlights
• Assay results received from 7 holes of the 9 hole programme at Hollandaire
• Hollandaire deposit contains Copper, Gold & Silver
- grades up to 45% Cu, 5.5 g/t Au & 256 g/t Ag
• Drill hole 11HOD009
- 9.3 metres at 15.4% Cu, 2.0 g/t Au & 29.0 g/t Ag from 61 metres
(including 1.0 metre at 45.5% Cu, 2.8 g/t Au & 51 g/t Ag and 0.8 metres at
41.2% Cu, 5.5 g/t Au & 62 g/t Ag)
• Drill hole 11HOD003
- 14.3 metres at 7.8% Cu, 1.0 g/t Au & 20.1 g/t Ag from 109 metres
(including 1.7 metres at 23.0% Cu, 1.8 g/t Au & 77.3 g/t Ag)
• Drill hole 11HOD004
- 1.9 metres at 5.2% Cu, 0.5 g/t Au and 10.7 g/t Ag from 97 metres
- 1.0 metre at 7.1% Cu, 1.3 g/t Au and 17.5 g/t Ag from 111 metres
• Drill hole 11HOD005
- 6.3 metres at 1.9% Cu, 0.9 g/t Au and 23.7 g/t Ag from 64 metres
(including 0.2 metres at 1.1% Cu, 3.0 g/t Au & 256 g/t Ag)"

What a good copper strike for a gold producer. 
They will be able to underpin development nicely.
Any following who can add more?




once it broke the 2.50 level it kept on moving...where will this end up?


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## springhill (6 August 2012)

*High Grade JORC Resource Totals 4.5Moz of Gold Maiden Ore Reserve Totals 1.3Moz of Gold*

Highlights
• Mount Monger:
− Total resource of 7.1 million tonnes at 7.4 g/t Au for 1.7 million oz
− >1.1 million ounces of resource accessible from existing infrastructure
− Maiden ore reserve of 2.9 million tonnes at 4.6 g/t Au for 0.4 million oz
− Maiden ore resource of 60,000 oz at Haoma West
− Ore reserve is based on a rolling 2 year outlook
− Drilling ongoing to convert resources to reserves
• Murchison:
− Total resource of 20.7 million tonnes at 2.8 g/t Au for 1.9 million oz
− Maiden ore reserve of 4.9 million tonnes at 2.7 g/t Au for 0.4 million oz
− Drilling ongoing to convert resources to reserves
• Great Southern:
− Total resource of 15.2 million tonnes at 2.0 g/t Au for 1.0 million oz
− Ore reserve of 7.4 million tonnes at 1.8 g/t Au for 0.4 million oz
• Total June 2012 resource (inclusive of ore reserves):
− 43.0 million tonnes at 3.3 g/t Au for 4.5 million ounces
• Total June 2012 ore reserve
− 15.3 million tonnes at 2.6 g/t Au for 1.3 million ounces


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## springhill (6 August 2012)

*SILVER LAKE RESOURCES TO ACQUIRE INTEGRA MINING*


• Silver Lake Resources to acquire Integra Mining via a unanimously recommended Scheme of Arrangement at an exchange ratio of 1 new Silver Lake share for every 6.28 Integra shares

• Offer values Integra at 45.2 cents and represents a 44% premium to the last closing price and a 40% premium to the 20‐day VWAP

• Integra shareholders to hold ~40% of the enlarged Silver Lake

• Proposed Scheme will create a major Australian gold producer with a 6.6Moz resource base (inclusive of 1.8Moz of Ore Reserves) current production of 200,000 oz pa and forecast production of +400,000oz pa in 2014

• Transaction offers a rare opportunity in the resources sector to create material value for shareholders of both companies given the proximity of operating mines, mills and combined tenement holdings:
o Operational synergies at Mount Monger with ability to substantially increase future production and reduce future operating and capital costs
o Economies of scale and ability to optimise production outcomes
o Reduction of corporate and operational overheads
o Access to Silver Lake’s underground mining expertise to de‐risk Integra’s proposed underground operations
o Ability to optimise exploration spend with access to Integra’s highly regarded exploration team
o Scale/breadth of technical resources to further de‐risk development of Murchison Project

• Enlarged Silver Lake to have strengthened balance sheet with A$107 million in cash

• Integra shareholders will benefit from project diversification and scale , attributes increasingly sought by institutional investors


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## pixel (6 August 2012)

not sure if the Market thinks this is good for SLR?




whereas IGR holders seem to consider the bid generous - if not a life-line.


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## mr. jeff (6 August 2012)

Very good buying by SLR and should really help along their gold production. I wonder whether there will be a revised bid or whether it will be taken. Tough  times for IGR maybe.


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## mixedeconomist (20 August 2012)

Any ideas of a sell price/timeframe?


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## pavilion103 (19 December 2012)

Big volume near a long term support (need to zoom out). This could have a nice little run up.


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## frankie_boy (24 January 2013)

Now that IGR has been taken over by SLR, I am now here. So now what. I will be reading through the chatter and be watching. Its way down from the 3.90 high of 3 months ago. No intension to sell off, but unsure of purchasing more.


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## Josho1 (30 January 2013)

Not looking good at all.


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## pixel (30 January 2013)

Josho1 said:


> Not looking good at all.


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## tinhat (13 February 2013)

I've dipped my toe in at 2.57 with a 2.36 stop loss.


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## pixel (13 February 2013)

tinhat said:


> I've dipped my toe in at 2.57 with a 2.36 stop loss.



Good luck, tinhat;

I traded the break, bought on Friday, sold on Monday:




If the retracement holds today's 50% level, I may rejoin you.


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## 56gsa (3 April 2013)

Anyone following this ?  And know reasons for the fall today?

I acquired through Integra holding and while it seems to have a great selection of projects from producers to exploration the market obviously isn't impressed.

Thoughts?


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## oldblue (3 April 2013)

I don't think it's a SLR-specific issue. Goldies generally are having a tough time of it at present - costs up, gold price  down Even Newcrest can't buck the trend!

I'm waiting for that to change.


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## frankie_boy (16 April 2013)

oldblue said:


> I don't think it's a SLR-specific issue. Goldies generally are having a tough time of it at present - costs up, gold price  down Even Newcrest can't buck the trend!
> 
> I'm waiting for that to change.





Looking very healthy since my holding of IGR crossed over. Half in value. Not what I was expecting.


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## jancha (27 April 2013)

oldblue said:


> I don't think it's a SLR-specific issue. Goldies generally are having a tough time of it at present - costs up, gold price  down Even Newcrest can't buck the trend!
> 
> I'm waiting for that to change.




Has that trend changed now?... Oversold Wednesday?...... 20% rise on Friday!! 
What a rollercoaster but if you're bullish on gold why wouldn't you like SLR way oversold imo.
Surprised that there isn't that much interest on SLR on this site.


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## oldblue (28 April 2013)

jancha said:


> Has that trend changed now?... Oversold Wednesday?...... 20% rise on Friday!!
> What a rollercoaster but if you're bullish on gold why wouldn't you like SLR way oversold imo.
> Surprised that there isn't that much interest on SLR on this site.




It seems the market is still digesting that small comment about output from the Daisy Complex being reduced by 45% to contain margins and maximise cashflow. Not conducive to a short term recovery in the SP?


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## frankie_boy (30 April 2013)

Certainly burnt of the jump in the last couple of days.

Bought in to offset, Gold is on the rebound, but still amazed/bewildered at the recent tank.


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## nox (8 May 2013)

Big jumps today, up 6.67% ! 
Happy that I decided to hold.


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## tinhat (8 May 2013)

I got shaken out at 0.99 yesterday. Happy to watch from the sidelines. My high risk attempts at catching a falling knife have been expensive mistakes. The cost blowout of the Murchison mine development project no doubt has disappointed the market. Who knows when this stock will bottom. At some point it will be a compelling buy. One day!


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## mr. jeff (8 May 2013)

tinhat said:


> I got shaken out at 0.99 yesterday. Happy to watch from the sidelines. My high risk attempts at catching a falling knife have been expensive mistakes. The cost blowout of the Murchison mine development project no doubt has disappointed the market. Who knows when this stock will bottom. At some point it will be a compelling buy. One day!




I can understand the attraction. 
SLR is still showing large volume without a clear move to change trend - it would seem that the stock is still seeing some serious selling.

 It is looking like a sell off completion - but until volumes settle back towards the 2M mark it is obviously being distributed as fast as possible. This is the same with many of the gold stocks and at this stage watching is probably the best bet in my view; shaken out may be the safer outcome at this stage. 
Has been happening to me recently when you see the amazing declines that have been happening recently it gets hard to resist. 
Perhaps long term these levels will look like no-brainer buys, but at this stage it is unclear where the selling will get down to.


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## jancha (10 May 2013)

mr. jeff said:


> I can understand the attraction.
> SLR is still showing large volume without a clear move to change trend - it would seem that the stock is still seeing some serious selling.
> 
> It is looking like a sell off completion - but until volumes settle back towards the 2M mark it is obviously being distributed as fast as possible. This is the same with many of the gold stocks and at this stage watching is probably the best bet in my view; shaken out may be the safer outcome at this stage.
> ...




Charts are looking positive on SLR but has the turn around begun?
I particularly like the stock as it actually running at a profit and going by their cut backs and the mining of higher grades while the POG is down I think the next quarterly will be a more positive one.
I also think if Gold hold around the current price SLR will continue to head north. Quote me if I'm wrong but I think before their producing cost per ounce was around $900 so you could see where the concern was if the POG falls lower.
I think its been oversold personally.


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## G Gekko (13 May 2013)

Looks like a lot of good miners are getting slaughtered in the market today unnecessarily. 

You'd think investors would be celebrating the decline of the AUD against the greenback. More buying opportunities for the rest of us then.


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## skyQuake (13 May 2013)

G Gekko said:


> Looks like a lot of good miners are getting slaughtered in the market today unnecessarily.
> 
> You'd think investors would be celebrating the decline of the AUD against the greenback. More buying opportunities for the rest of us then.




Gold smacked overnight (though it recovered a fair portion), then the WSJ publishes noise about QE3 ending, gold smacked in Asian session. The current moves look fair imo


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## tinhat (13 May 2013)

The selling climax was 24 April. Now we are just seeing the market suck the last blood out of and smack around the drained corpses of drongos like myself who jumped in hoping for a quick relief rally. This gold rout has been a great education for me. It has finally impelled me to read up on Wyckoff, VSA and P&F charting. Wish I had started doing so a couple of years ago.


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## mr. jeff (13 May 2013)

tinhat said:


> The selling climax was 24 April. Now we are just seeing the market suck the last blood out of and smack around the drained corpses of drongos like myself who jumped in hoping for a quick relief rally. This gold rout has been a great education for me. It has finally impelled me to read up on Wyckoff, VSA and P&F charting. Wish I had started doing so a couple of years ago.




Off topic perhaps but very true and greatly worthwhile.
The best way to exit is with a plan and in accordance. No holding on because "it could recover" just a clinical exchange.

Still worth keeping an eye on the chart...SLR heavily sold down today.


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## Intrinsic Value (14 May 2013)

I still think this one is a good medium term play. I am not going to worry about movements everyday otherwise I will have a nervous breakdown.

Gold in general is a more risky proposition that other sectors given that it is a price taker so risk profile and portfolio position size are very important.


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## jancha (16 May 2013)

On the close yesterday we had a seller for 1.6mil @ .90c.... So much for thinking it was oversold at $1.00!
Gold 2% SLR drops 8%. At this rate if the POG drops to $1000oz SLR should be around 70c? 60c?
When SLR merged with IGR not that long ago IGR was valued at $480mil alone?  
SLR market cap is around 380mil now!
While the US economy and green back strengthens GOLD will weaken along with juniors like SLR who in turn would be fairly attractive to the larger miners when the dust settles.


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## oldblue (16 May 2013)

The problem there is that the SP's of the big gold miners have also taken a hammering, eg Newcrest now down around the $15 mark! - so their ability to buy up the next tier becomes questionable. Still, if SLR et al become cheap enough..........?


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## jancha (16 May 2013)

oldblue said:


> The problem there is that the SP's of the big gold miners have also taken a hammering, eg Newcrest now down around the $15 mark! - so their ability to buy up the next tier becomes questionable. Still, if SLR et al become cheap enough..........?




Newcrest could still operate profitably if gold continues to fall by closing certain mines and cutting back where as smaller mining juniors don't have that luxury and as you say become cheap enough for a T/O.
The gold miners that survive the out come of this slaughter should be a bargain buy imo.
Is a bit like the rich getting richer and the poor getting poor.


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## G Gekko (16 May 2013)

Bought in for another 1212 at $0.825. I think this is a case of buy cheap and just hold for a more medium to long term play. Just as well for me, I'm not a day trader.


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## dmallik (20 May 2013)

I'm new to the thread, and am about buy into SLR for the first time. If the insider purchases are any indication, SLR is highly undervalued. Les Davis and several directors bought more than a half million shares in the last several weeks. I think Bernanke, JPM, GS, and the euro central banks will soon lose their grip on PM manipulation (tonight's smack-down notwithstanding). Don from Atlanta, GA.


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## frankie_boy (20 May 2013)

dmallik said:


> I'm new to the thread, and am about buy into SLR for the first time. If the insider purchases are any indication, SLR is highly undervalued. Les Davis and several directors bought more than a half million shares in the last several weeks. I think Bernanke, JPM, GS, and the euro central banks will soon lose their grip on PM manipulation (tonight's smack-down notwithstanding). Don from Atlanta, GA.




Well I topped up on Friday, not expecting a 5% tank today. If your willing to slip in now by all means! Good Luck!


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## oldblue (20 May 2013)

Just curious, but why would you people want to buy into a downtrend? Just because insiders made that mistake last week doesn't improve the odds this week! Personally, I'd wait for a reversal of the trend before jumping in.


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## Boggo (20 May 2013)

oldblue said:


> Just curious, but *why would you people want to buy into a downtrend*? Just because insiders made that mistake last week doesn't improve the odds this week! Personally, I'd wait for a reversal of the trend before jumping in.




Its a gambler "I know better than the market" mentality. Scary eh !


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## outback (20 May 2013)

Some people just like catching falling knives, personally I'm hopeless at it, I've accumulated enough scares to sit on the sidelines until the tide has shown it has turned.


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## G Gekko (20 May 2013)

oldblue said:


> Just curious, but why would you people want to buy into a downtrend? Just because insiders made that mistake last week doesn't improve the odds this week! Personally, I'd wait for a reversal of the trend before jumping in.




Interesting perspective. I personally bought because I perceive the stock as being generally undervalued. I don't rely on any insider's perspective to tell me this, I've done enough research into the company to suggest to me that in the longer term that it is a fairly good investment despite any trend going on at the moment.

But for sure... to watch your holdings drop day after day in value is nerve wrecking. Maybe in future I will pay more attention to trends and try to work them to my favor.


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## wadesansom (22 May 2013)

SLR down another 8.22% today - following the release of the Hollandaire Drilling Results.

Wondering when or if this stock can turn around...


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## G Gekko (22 May 2013)

wadesansom said:


> Wondering when or if this stock can turn around...




Yeah, the price of the stock doesn't even correlate with the price of gold. I'm amazed at how 'over-reactive' the market is, although I know it's often explained that the SP usually reflects where people think the POG will be tomorrow.

Bernanke's giving a speech tonight/tomorrow about the future QE, personally I think there's been way too much speculation that the US Fed will be cutting it in the near term, but if I were the US Fed I'd probably continue buying bonds at approximately the same rate due to domestic & international uncertainty. The US has been posting some good employment data in recent months but a lot of people expect inflation to fall well short of their target of 2%.

Would be nice to see gold not abandoned so quickly over speculation and rumor.


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## dmallik (3 June 2013)

oldblue said:


> Just curious, but why would you people want to buy into a downtrend? Just because insiders made that mistake last week doesn't improve the odds this week! Personally, I'd wait for a reversal of the trend before jumping in.





 Here's my logic, convoluted as it may be. I picked up 10300 shares in the last 2weeks at an average price of $0.75. I figure even if it went to zero. I'd loose less that the folks that road it down from $3 (or even $2) to today's price. On the other hand, if it returns to $3, I'll quadruple my investment while some just break even. In any case, SLR is worth more than $0.75 dead or alive.


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## Ves (3 June 2013)

dmallik said:


> Here's my logic, convoluted as it may be. *I picked up 10300 shares in the last 2weeks at an average price of $0.75. I figure even if it went to zero. I'd loose less that the folks that road it down from $3 (or even $2) to today's price.* On the other hand, if it returns to $3, I'll quadruple my investment while some just break even. In any case, SLR is worth more than $0.75 dead or alive.



As far as I can tell, if it goes to zero you all lose the same.  The lot - ie 100%.


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## Wombus (4 June 2013)

Ves said:


> As far as I can tell, if it goes to zero you all lose the same.  The lot - ie 100%.




Wow what a valuable contribution. He made a perfectly reasoned comment about his own reasons for investing and your wise crack is the best you can do?

Would you swap 100% of your equity for 100% of the equity of a homeless person?? of course not! not all '100%' are equivalent.


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## pixel (6 June 2013)

dmallik said:


> Here's my logic, convoluted as it may be. I picked up 10300 shares in the last 2weeks at an average price of $0.75. I figure even if it went to zero. I'd loose less that the folks that road it down from $3 (or even $2) to today's price. On the other hand, if it returns to $3, I'll quadruple my investment while some just break even. In any case, SLR is worth more than $0.75 dead or alive.




Mate, your logic is far from being "convoluted". It's the old story of "Buy low. Sell high." Or if it won't go higher, stop the loss early. It also highlights the need to keep your position size in perspective as a reasonable percentage of your overall account.
If $8,000 is a small part - say, 2% - of your account balance, the maximum you can possibly lose is 2% of your account balance, or $8,000. But here's the rub: Assume SLR does indeed move back up to $3. If you play "set and forget", you'll risk losing about 8% of your *then* account balance. Which makes it IMHO mandatory to keep an eye on all your holdings *and apply a reasonable trailing stop *that ensures you don't give back more of your money than necessary.


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## Ves (6 June 2013)

Wombus said:


> Would you swap 100% of your equity for 100% of the equity of a homeless person?? of course not! not all '100%' are equivalent.




If you lose 100% in the share market, you lose 100% in the share market.   It doesn't matter if it goes from $3 to nil or $0.70 to nil.  You lose the same amount of money.   It's not a wise crack - it's simple maths that has nothing to do with the equity of a homeless person.


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## tigerboi (8 June 2013)

you will not have any LOOSE change  if you LOSE money on silver lake resources...






dmallik said:


> Here's my logic, convoluted as it may be. I picked up 10300 shares in the last 2weeks at an average price of $0.75. I figure even if it went to zero. I'd loose less that the folks that road it down from $3 (or even $2) to today's price. On the other hand, if it returns to $3, I'll quadruple my investment while some just break even. In any case, SLR is worth more than $0.75 dead or alive.


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## Wombus (9 June 2013)

Ves said:


> If you lose 100% in the share market, you lose 100% in the share market.   It doesn't matter if it goes from $3 to nil or $0.70 to nil.  You lose the same amount of money.   It's not a wise crack - it's simple maths that has nothing to do with the equity of a homeless person.




the OP's reasoning is that 10k odd shares going from $3->$0.75 is more of a loss than $0.75->$0. So by implication his 100% is less than another individual who purchased (the same number) at a much higher price and is holding. Yet despite his 100% being less in monetary terms he stands to gain much more in Return on Investment sense, and the same in a $$ sense.

My mention of a homeless person is an analogy to illustrate that not all 100%'s are equal - it's simple maths (apparently not simple enough).


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## dmallik (9 June 2013)

tigerboi said:


> you will not have any LOOSE change  if you LOSE money on silver lake resources...




LOL. That's not the first time I made that mistake but it will be the last. Thank you. 

I should have juxtaposed, "SLR is worth more than $0.75..." with blah, blah, blah. I was hoping to stimulate some conversation on SLR's intrinsic value. Of course that depends on the price of gold and the way it's going, none of the miners will be worth a nickel. I do believe SLR's all in cost per oz. is better than most.


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## Intrinsic Value (26 August 2013)

I was thinking of selling SLR on the back of a nice rise over the last few weeks and  lo and behold I see they are in a trading halt on a big moving day for gold stocks.

Capital raising I think which is rarely ever a good thing


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## G Gekko (26 August 2013)

I feel your pain Intrinsic Value, I was watching for SLR when I was at work today on the opening as I am contemplating exiting and was wondering why all my other stocks were getting data. Until I realised it was frozen. 

Yeah just time it around a surge in Gold SLR board!


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## Intrinsic Value (27 August 2013)

G Gekko said:


> I feel your pain Intrinsic Value, I was watching for SLR when I was at work today on the opening as I am contemplating exiting and was wondering why all my other stocks were getting data. Until I realised it was frozen.
> 
> Yeah just time it around a surge in Gold SLR board!




SLR directors are a joke.

Their debt was very manageable, gold prices have increased in AUD significantly since their lows awhile back  so really there was no need for this capital raising which almost forces existing investors to buy more if they want to retain value due to extra shares on the market yet the directors themselves are not prepared to share the pain in any equivalent proportion.

Very bad timing and a smack in the face I reckon for existing investors.

Also very risky as todays share price is 95c and the offer is for 85c. If the gold price drops in the next few days then they are dead in the water which is what they deserve.


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## notting (27 August 2013)

The US is about to start bombing Syria. Gold we be OK for a while.


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## tinhat (28 August 2013)

Unbelievable. Balance sheet is strong as Intrinsic Value says.

Why capital raise now when the price is so low and the price of gold is on a recovery and the stock price is also in a turn-around? Why now - is it because the management believe that the shares are only worth 86 cents each. A cynical person might wonder if the instos were being allowed to grab some cheap shares while letting the directors pick up $1.2 million of cheap shares too.

I only bought into SLR a few days ago because I wanted to go longer into gold miners and didn't want to have all my eggs in once basket (MML). Was tossing up between SLR and NST and thought SLR has more upside potential in the share price.

I'm always disappointed to see management that doesn't treat its non-insto shareholders with any respect. Even when I "speculate" on a stock I always only pick stocks where I think the underlying business is sound.

I have a small holding - I might just sell it and chose another gold miner.


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## oldblue (28 August 2013)

Hi, tinhat.

It sounds like you're more annoyed with yourself for your recent investment decision than with the directors of SLR!

Do we know how comfortable the lenders are with their SLR advances? Or have they pressured the company to repay the $45m? There's nothing unusual about the way the company is raising the new capital - placement to instos followed by a modest SPP to shareholders at the same price. That's the way it's done these days, particularly when a company has an urgent need and it's not a BHP or a WOW. OK, the small placement to directors is a bit off but you do see that too, especially at the more volatile end of the market - miners, oilies etc.

I hold a few and will be looking to add via the SPP. The threat of conflict in the Middle East just might ignite another run in the PoG!


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## G Gekko (28 August 2013)

I'm not 100% down beat about SLR's capital raising as well. On one hand, I _hate_ it when directors choose to dilute shareholder value. It also has the potential to arrest some really great gains we could have made otherwise. On the other... I've been monitoring the depth and the amount of buyers vs sellers has definitely rebounded from the capital raising announcement (take a look as well at how many people are willing to pay virtually at market). I'm always happy as well when a company pays off its debt and as oldblue has said, it's still really well positioned to take advantage of a run in the POG.

I anticipate that current prices reflect uncertainty as to what's happening with a number of things but it might spike if bombing in Syria begins. There is also the factor of the US Fed... along with a bunch of technical considerations.

Don't forget as well.. that at present SLR is ramping up their gold production and expect to do so for the next few years. 

Happy trading.


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## Intrinsic Value (28 August 2013)

G Gekko said:


> I'm not 100% down beat about SLR's capital raising as well. On one hand, I _hate_ it when directors choose to dilute shareholder value. It also has the potential to arrest some really great gains we could have made otherwise. On the other... I've been monitoring the depth and the amount of buyers vs sellers has definitely rebounded from the capital raising announcement (take a look as well at how many people are willing to pay virtually at market). I'm always happy as well when a company pays off its debt and as oldblue has said, it's still really well positioned to take advantage of a run in the POG.
> 
> I anticipate that current prices reflect uncertainty as to what's happening with a number of things but it might spike if bombing in Syria begins. There is also the factor of the US Fed... along with a bunch of technical considerations.
> 
> ...




There is no way around it the whole thing stinks and is completely unnecessary.

The fact that the  POG may go up due to any number of factors doesn't negate the fact that they are diluting share holder value and that any offer which we might take at 85c will still not offset the gains we would have made had these extra shares not been offered.

I have a substantial holding with an average buy in of 77cents so not happy at all.


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## notting (3 December 2013)

This is one of the better Goldies.
The price is insane even if it mothballs for 5 years this price is low.


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## skc (3 December 2013)

notting said:


> This is one of the better Goldies.
> The price is insane even if it mothballs for 5 years this price is low.




The destruction of the gold sector is absolutely amazing.





SLR ranks first amongst my gold stock list with a negative return of almost 30% in the last week. It also tops the table for negative return for the year.

Anyone knows that is their cost/oz position? I had something from last year that suggests US$800 but I highly doubt that is true.


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## notting (3 December 2013)

I think it's around 915 and that's conservative.
If bit coins are worth $1000 due to lack of faith in currencies, as reported, gold should be $3500 oz.
Fashion's weird!
I'm not holding, yet, but there will be a day, not too far off, when you will be able to double your money in a week or two!  I guarantee it!


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## TheUnknown (3 December 2013)

amazing what has happened to gold, not long until it hits $1000 at that price it would be an absolute bargain IMO


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## oldblue (3 December 2013)

notting said:


> I think it's around 915 and that's conservative.
> If bit coins are worth $1000 due to lack of faith in currencies, as reported, gold should be $3500 oz.
> Fashion's weird!
> I'm not holding, yet, but there will be a day, not too far off, when you will be able to double your money in a week or two!  I guarantee it!




According to the September quarterly report the "All-in Sustaining Costs" for FY14 YTD was AUD1919/oz for Murchison and AUD1098/oz for Mt Monger.


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## notting (3 January 2014)

notting said:


> I'm not holding, yet, but there will be a day, not too far off, when you will be able to double your money in a week or two!  I guarantee it!




Pretty much spot on today. Just over 2 weeks, I should have said within 14 trading days.


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## Intrinsic Value (3 January 2014)

Getting back close to my buy in price only a few cents off.

Hoping the upward momentum will continue.


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## TheUnknown (3 January 2014)

are you people really that confident in SLR?


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## notting (3 January 2014)

TheUnknown said:


> are you people really that confident in SLR?




What confidence are you talking about?
That trade is over.


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## pixel (3 January 2014)

notting said:


> What confidence are you talking about?
> That trade is over.




this morning's gap-up was a worry; together last night's dumping in Europe and the US, it kept me out of SLR.
Mind you, the trade between the two trendlines was pretty profitable. Mustn't be greedy


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## Intrinsic Value (27 February 2014)

SLR in a trading halt.

Looks like bad news is a coming.

I have been going to dump my SLR for the last week or two but didn't.


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## Intrinsic Value (7 March 2014)

Intrinsic Value said:


> SLR in a trading halt.
> 
> Looks like bad news is a coming.
> 
> I have been going to dump my SLR for the last week or two but didn't.




Now they have fallen out of the ASX200 and price of gold rose strongly overnight SLR share price down on top of the 15 percent dilution of value via the institutional capital raising.

WTF


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## Wysiwyg (7 March 2014)

Intrinsic Value said:


> Getting back close to my buy in price only a few cents off.
> 
> Hoping the upward momentum will continue.



 You're internet name Intrinsic Value suggests a "value" investor. This is a speculative play on a bottom bouncer so am I right in assuming you seek not "Intrinsic Value" but simply trade ASX shares?


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## hchahim (21 March 2014)

The SLR price has been holding quite well since the fall that followed the capital raising and getting booted from the ASX 200. Turnover has been huge most probably as institutional investors unload their parcels. But there arent that many mid-tier gold miners in Australia so where are they going to park their funds if they want exposure to gold?
Turnover today was large again around 8 million - but an additional 24 million shares changed hands after the market closed at the days best price of around 47.5 cents.
If anyone knows why please share the mail?


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## frankie_boy (5 January 2015)

Now not many have been chatting about this stock in quite some time. If you held onto it since the merge from IGR then you be as as me. 

Cant say whats going to happen from now on, it bottoming out at 0.155 recently is a far away from the price I came in at. Looking at dipping in again, just looking at what other peoples opinion is on the stock.


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## oldblue (5 January 2015)

I'm holding a few, too.

If the "sustaining cost of production" at Mt Monger is still A$1098 then they should be able to battle on at today's gold price.


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## noirua (24 January 2016)

Once thought of as the best small cap goldie heading for mid-cap, could have put your hat on that happening. Now SLR are struggling to make much profit from their mines and its shares have crashed. However, bad news is improving to not so bad after all and no doubts on survival now as the company struggles uphill to get back to the glory days.
New mines coming to the starter blocks have better grades and should have lower costs accordingly.  One to keep your beady eyes on.


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## oldblue (25 January 2016)

UBS rates SLR a Buy.

From FN Arena:

"UBS rates SLR as Buy (1) - December quarter production was ahead of UBS forecasts, as milled grade lifted to 4.0g/t from 3.2g/t. 2016 production guidance has been reiterated at 125-135,000 ozs.
Buy rating is retained based on valuation although the stock remains one of UBS lesser convictions in the Australian gold space. Target is lowered to 35c from 38c.
Target price is $0.35 Current Price is $0.22 Difference: $0.13 If SLR meets the UBS target it will return approximately 59% (excluding dividends, fees and charges). The company's fiscal year ends in June."


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## pixel (4 July 2016)

Breakout! (Thanks, Tape Trader, for the heads-up in Breakout thread.)

Long-term, we've seen a strong uptrend for a long time:





Pity I missed the Fib breakout in April; when I finally caught up, the gap-up made me reluctant to buy that break. (I'm also significantly exposed to other gold stocks.)
The Daily chart is now one Fib level higher, breaking it on Friday. Another gap-up today may well lead to a repeat performance of the post-April break.




All of that is underpinned by fundamental aspects arising from the shambolic Election result. Goldies are trading well ahead of the pack, while banks are a drag.


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## noirua (13 July 2016)

A producer getting its act together again. Everything well set providing gold remains stronger and the Aussie stays weak to the greenback.


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## greggles (6 April 2018)

After struggling for a long time Silver Lake Resources is on the move again after reporting record gold production at its Mount Monger operation.


> Gold sold for the quarter ended 31 March 2018 was 45.2koz, a 31% increase on the December quarter and 21% higher than any previous quarter from Mount Monger’s, Randalls Gold Processing Facility (“RGPF”). The strong production result lifts FY18 sales guidance to 145-150koz.




Silver Lake ended the quarter with a cash and bullion balance of A$87.3 million and has no debt.

SLR needs to break through 50c convincingly but sentiment seems to be turning for the company so this may be one to keep an eye on.


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## tinhat (6 April 2018)

Please don't remind me that I used to own shares in this company! Good to see confirmation in the chart that the share price has jumped the creek.


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## greggles (7 April 2018)

tinhat said:


> Please don't remind me that I used to own shares in this company! Good to see confirmation in the chart that the share price has jumped the creek.




Silver Lake has been a real disappointment over the last five or six years but it looks like it may have finally turned the corner. It finished the day on its highs and is looking quite bullish.


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## greggles (16 April 2018)

Potential breakout? 

Silver Lake Resources flirting with 50c but there are plenty of sellers at this level keeping it down.

Quarterly is due out this Friday, so perhaps that will give it a kick along?


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## tech/a (19 April 2018)

Like this as well.
No debt plenty in the bank.
Will post my own chart on it when I have more time.

Nice stuff greggles you find some good ones.


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## explod (19 April 2018)

Yo did it well greggles. Healthy


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## greggles (26 April 2018)

After breaking through 50c, SLR has continued north after a couple of days of consolidation and is now at 55.5c.

Looking at a 2 year chart would seem to indicate that Silver Lake has now broken through all resistance under 65c. If the gold price holds up then SLR should continue to perform.


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## greggles (2 May 2018)

Higher highs and higher lows almost all the way up from 35c. The upward trend is still intact. I'm starting to think that SLR may be able to push through 60c before the end of the week as long as the gold price doesn't weaken.


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## greggles (9 May 2018)

A higher gold price in AUD has propelled Silver Lake Resources to even higher levels today. Currently at 64c and buyers appear to be in a bit of a frenzy. Hard to know where SLR is going to settle and consolidate, its rise over the last couple of months seems to be relentless.


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## tech/a (9 May 2018)

Like this Chart G
Been trading this since 47c
Expect it to edge towards 75c


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## greggles (14 June 2018)

A month later and we've seen a double top form at 65c and consolidation between 55c and 65c. Some positive drilling results and a recovering gold price has kept the price above 55c and that level appears to be shaping up as support.

Nice little move back to 60c today. The key will be the direction of the gold price, which has been performing well in AUD since 4 June. If it continues we should see a move back through 65c and hopefully higher.


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## greggles (4 July 2018)

Second attempt at moving above 60c and out of the consolidation zone. Move is stronger this time and volume is better. Watching for a break above 65c.


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## greggles (23 July 2018)

Solid Quarterly Activities Report from SLR released on Friday, but the current bearish gold price is keeping a lid on gold stocks.

Change in substantial holding announcement this morning: LF Ruffer Gold Fund has increased its holding in SLR from 6.05% to 7.06%.


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## barney (23 July 2018)

With Cash and Bullion of over $100 million and a Market Cap of around $300 million …… 

There's only one way this will go if the POG picks up ….  Its on my buy list so watching gold price gyrations with interest


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## barney (22 August 2018)

Good 2018 Numbers released by SLR today ….. 

Large blocking order appeared at 50 cents …. It started to get hit and the bulk of it disappeared

POG is the only snag at the moment …


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## greggles (22 August 2018)

barney said:


> POG is the only snag at the moment …




Yep. Hard to believe a company with $105 million in the bank and generating $255 million in revenue a year could have a market cap of just $250 million. They have around 80% (129,000 oz) of their FY19 projected gold production hedged at A$1,726, so any exposure to the prevailing gold price won't be felt until the last quarter of the current financial year, and who knows what the gold price will be then?

SLR is still very undervalued IMO.


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## aus_trader (22 August 2018)

greggles said:


> Yep. Hard to believe a company with $105 million in the bank and generating $255 million in revenue a year could have a market cap of just $250 million. They have around 80% (129,000 oz) of their FY19 projected gold production hedged at A$1,726, so any exposure to the prevailing gold price won't be felt until the last quarter of the current financial year, and who knows what the gold price will be then?
> 
> SLR is still very undervalued IMO.



I think this is certainly one to watch if there is a turn around in gold.


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## notting (22 August 2018)

aus_trader said:


> I think this is certainly one to watch if there is a turn around in gold.



I'm going to be dripping a fortune into it as long as it remains weak and weakening.
One where I shall break all the rules and wait and wait and wait.
There will not be enough available when it turns so I will do it slowly this way!
THE DAY WILL COME!!!


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## peter2 (22 August 2018)

You think SLR is fundamentally sound.
Price is entering the corrective fib buy zone. Gold is off a low. 
Even I considered a bold reversal long in SBM today (this is another story).


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## notting (22 August 2018)

Been buying NCM, SBM, EVN, RRL, MLX and a little of this to start feeling it out, I know I'm weird.
Adding all those up my position is slightly positive at this bottoming juncture.
SLR behaves rather strangely.  It's like it's trading 2 or 3 days behind all the others all the  time.
Which gives you plenty of time to make for short term bets!!!(which isn't what I'm talking about this time)
Yes right now it's looking weak but it is a sound business and it will do me well, mark my words!!


----------



## peter2 (22 August 2018)

I love your passion. Weird, no, more like cunning. We're each doing our thing and loving it. Seeing a day like today, makes me think about day trading the ASX, but day's like today are rare. 
I'll put a few goldies in my reversal watch list (jic).


----------



## leyy (22 August 2018)

Got stopped out of SLR at 0.49 cents.


Agree, they had a good result. But the market is never really rational right?

will keep monitoring to see how this goes.


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## aus_trader (22 August 2018)

notting said:


> I'm going to be dripping a fortune into it as long as it remains weak and weakening.
> One where I shall break all the rules and wait and wait and wait.
> There will not be enough available when it turns so I will do it slowly this way!
> THE DAY WILL COME!!!



I'm going to be on the side of caution since Gold has not shown a clear reversal from it's current downtrend. Once gold turns around SLR looks like a prime candidate amongst the gold stocks on the asx.


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## aus_trader (22 August 2018)

leyy said:


> Got stopped out of SLR at 0.49 cents.
> 
> 
> Agree, they had a good result. But the market is never really rational right?
> ...



I'm doing the wait and see as mentioned above. Markets can stay irrational for years sometimes from my experience.


----------



## greggles (24 August 2018)

SLR has increased its Total Mineral Resources from 3,292,000 to 3,721,000 ounces of gold in the last 12 months.


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## aus_trader (25 August 2018)

greggles said:


> SLR has increased its Total Mineral Resources from 3,292,000 to 3,721,000 ounces of gold in the last 12 months.



Looks like they won't be running out of Ounces any time soon, with nearly 4m Oz resource ​


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## aus_trader (26 August 2018)

Although a general article not specifically covering SLR, it's interesting to read that Aussie gold production is predicted to drop from 2020 onwards due to dwindling mine life of existing producers and that may be cause quality stocks to be in demand...

https://www.msn.com/en-au/money/fin...-will-be-in-demand/ar-BBMlJEk?ocid=spartandhp


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## notting (21 September 2018)

Fulfilling the dream  -



notting said:


> I'm going to be dripping a fortune into it as long as it remains weak and weakening.
> One where I shall break all the rules and wait and wait and wait.
> There will not be enough available when it turns so I will do it slowly this way!
> THE DAY WILL COME!!!


----------



## peter2 (21 September 2018)

Thought you might be enjoying this rally in the goldies. Your timing was great with almost no downside since your notice of intent to dream big. Hopefully the party's only just starting.


----------



## aus_trader (21 September 2018)

peter2 said:


> Thought you might be enjoying this rally in the goldies. Your timing was great with almost no downside since your notice of intent to dream big. Hopefully the party's only just starting.



I hope so too Peter, Gold has been in a downtrend for quite a while and flattening out nicely now. So it could tick higher from here and looks like a tiny uptrend is starting...

Wish I had the confidence of notting to buy up big but I'm the sort of bloke who'll be sh#ting in the pants if that big stake started rolling downhill 

At least I'm glad I took a 'small-stake' with Aurelia Metals Ltd(*AMI*) in my Speculative Stock Portfolio, which is one of the lowest cost miners to pull the shiny yellow metal out of the ground on ASX.


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## notting (21 September 2018)

aus_trader said:


> Wish I had the confidence of notting to buy up big but I'm the sort of bloke who'll be sh#ting in the pants if that big stake started rolling downhill




It's not really a good idea 'in general' to do what I have done here.
What gave me confidence is this -
No.1 They have plenty of cash, cash flow and no debt.
2. EM currencies were all taking it excessively in the butt vs US $ whilst gold 'appeared to be weakening, not so for EM Goldies!
3. There is more than enough global argi bargi going on to ensure that there would at least be a solid spike in gold at some point, and counter to that if there were a relaxing of risk instead, then this would bring a weakening of the US$ (win win) vs US which is how these were being played(as if leveraged against the US$) despite the EM hedge.
4. I have traded this before and know how it tends to behave despite the fact the companies position has improved substantially recently.
5. It's charts and, as you pointed out, the behavior of Gold against the US$ appeared to be suggesting a bottom indicated a highly probable opportunity with vertually no risk!!
NOT TOO MUCH GUTS NEEDED IN THE LIGHT OF ALL THAT!!


----------



## aus_trader (21 September 2018)

notting said:


> It's not really a good idea 'in general' to do what I have done here.
> What gave me confidence is this -
> No.1 They have plenty of cash, cash flow and no debt.
> 2. EM currencies were all taking it excessively in the butt vs US $ whilst gold 'appeared to be weakening, not so for EM Goldies!
> ...



Some good points supporting gold price. Cheers.


----------



## barney (21 September 2018)

notting said:


> It's not really a good idea 'in general' to do what I have done here.
> What gave me confidence is this -
> No.1 *They have plenty of cash, cash flow and no debt.*




Number 1 was enough for me but I got greedy hoping for low 40's  ….. that looks pretty unlikely now.

One of the best valued Goldies on the ASX …… 

SLR management have the Company in a good position …. if the POG starts to rally it could generate a lot of free cash.

I had PNR flagged as another potential SLR but then they go and raise capital at the lows when they didn't really need to ………. Such is life.


----------



## greggles (22 September 2018)

About a week ago SLR announced that diamond drilling results from the Daisy Complex continue to deliver outstanding intersections in multiple directions, with strong continuity and high-grades at established underground mining widths.

Significant new results at the Easter Hollows prospect, immediately to the west of the prolific Haoma West lodes, include:
• 0.45m @ 526 g/t
• 0.45m @ 43.4 g/t
• 1.64m @ 18.7 g/t
• 1.10m @ 16.0g/t
• 0.66m @ 17.9 g/t

The company believes that new lode structures have been discovered at Easter Hollows. Their FY19 exploration drill program has been updated to prioritise the Easter Hollows area and drilling is ongoing.

Highlights from extensional drilling at the Lower Prospect zone included:
• 2.72m @ 25.7 g/t Au
• 2.43m @ 25.7 g/t Au
• 0.28m @ 87.0 g/t Au
• 0.20m @ 70.5 g/t Au
• 1.89m @ 10.9 g/t Au
• 1.65m @ 7.48 g/t Au
• 3.55m @ 5.50 g/t Au

The drilling SLR have been doing in the current quarter has been increasing their reserves close by their current primary operations, lowering the cost of future production. Higher margins mean more free cash flow as long as the gold price doesn't head south from here. I remain bullish on SLR and think they are significantly undervalued at current prices.


----------



## aus_trader (24 September 2018)

greggles said:


> About a week ago SLR announced that diamond drilling results from the Daisy Complex continue to deliver outstanding intersections in multiple directions, with strong continuity and high-grades at established underground mining widths.
> 
> Significant new results at the Easter Hollows prospect, immediately to the west of the prolific Haoma West lodes, include:
> • 0.45m @ 526 g/t
> ...



Some High grade intercepts, wow! Some of the widths are on the lower end, so maybe hitting narrow vein like structures. Just my opinion, I'm not a geologist.


----------



## greggles (12 October 2018)

Bullish gold price assisting SLR at the moment. If gold continues to rally we might see SLR taking on previous high of 65c in the near future. A break through resistance there would be very bullish.

Silver Lake Resources up 7.55% to 57c so far today.


----------



## aus_trader (12 October 2018)

greggles said:


> Bullish gold price assisting SLR at the moment.







With gold price up I thought to look for quality gold stocks to put in my Speculative Stock Portfolio.

Just bought some SLR since AMI has taken quite a hit today with a lower than expected production this quarter. Will update the portfolio later today.


----------



## greggles (18 November 2018)

I was busy this week and missed this announcement from SLR on Wednesday.



> *Silver Lake Resources and Doray Minerals announce a merger to create a new multi-asset, mid-tier gold producer with the financial strength to become a leading growth focused gold company *
> 
> Silver Lake Resources Limited (“Silver Lake”) (ASX: SLR) and Doray Minerals Limited (“Doray”) (ASX: DRM) are pleased to announce that they have entered into a binding Scheme Implementation Deed, under which the two companies will merge by way of a Doray Scheme of Arrangement (“Scheme”). The  merger will combine two complementary West Australian gold operations to create a leading ASX mid-tier growth-focused gold producer (“Merged Group”).
> 
> ...




I haven't gone through all the information in the three announcements released on Wednesday so I haven't yet been able to form an opinion about this merger and its impact on SLR and DRM shareholders. However, it's clearly big news for both companies.

Anyone else had a closer look at the details?


----------



## aus_trader (19 November 2018)

greggles said:


> I was busy this week and missed this announcement from SLR on Wednesday.
> 
> 
> 
> ...



I think the Doray Minerals Limited (DRM) shareholders have a slightly better outcome. SLR already has 4million Oz gold in resources and at current mining rates it will be decades before it carves out the entire deposits. Doray has dwindling gold resources and I've seen in other forums how people viewed the company running out of gold to mine in the near future. So I think Doray shareholders would be quite happy to jump on the opportunity to join a much bigger company when combined with SLR for security.

I have sold SLR few days ago in the Speculative Stock Portfolio as the price has stumbled on the merger news. Time will tell if the merger is a good one and if the combined group can bring efficiencies to bring the mining cost down, given both are fairly high cost producers. If so I may buy the new company down the track...


----------



## barney (19 November 2018)

greggles said:


> Anyone else had a closer look at the details?




Also been out and about so not well versed in the scenario ………. 

We know SLR are well cashed up with good future projections 

DRM have potential but their debt almost equals their cash on hand so maybe some financial logistical problems there that are a bit more pressing than are obvious?

The merger gives SLR a continued healthy tax advantage for the short term while acquiring a solid Company with potential .... This tells me that SLR are seeing a lot of financial upside from the deal. 

In a nutshell, it looks like SLR management are doing their job to me, and DRM management see that the longer term deal will see them in a better position than they may have ended up in otherwise … win win

That summation was based on 5 minutes of reading so take it with a grain of wasabi!!


----------



## aus_trader (20 November 2018)

barney said:


> Also been out and about so not well versed in the scenario ……….
> 
> We know SLR are well cashed up with good future projections
> 
> ...



I couldn't really see a great deal of advantage for SLR from the deal, perhaps it's the tax advantage which is a completely different way of looking at this merger. For thinking outside the box, like given


----------



## barney (20 November 2018)

aus_trader said:


> I couldn't really see a great deal of advantage for SLR from the deal, perhaps it's the tax advantage which is a completely different way of looking at this merger. For thinking outside the box, like given




 … Cheers @aus_trader  ….. but I take no credit for my observation … other than I "observed" it in one of the Company Reports

What it does tell me (if my summation is correct) is that is SLR management are thinkers …. and management at this end of the market who are industrious, generally reward their shareholders ….. 

I don't hold SLR but I like the way they go about their business, and I suspect shareholders will eventually reap good rewards from them


----------



## aus_trader (22 November 2018)

barney said:


> … Cheers @aus_trader  ….. but I take no credit for my observation … other than I "observed" it in one of the Company Reports
> 
> What it does tell me (if my summation is correct) is that is SLR management are thinkers …. and management at this end of the market who are industrious, generally reward their shareholders …..
> 
> I don't hold SLR but I like the way they go about their business, and I suspect shareholders will eventually reap good rewards from them



Sounds good barney, I'll be monitoring how the combined company (if there is no issues with merger) progresses...


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## greggles (22 November 2018)

barney said:


> I don't hold SLR but I like the way they go about their business, and I suspect shareholders will eventually reap good rewards from them




The thing that bothers me about SLR is the lack of imagination. I don't understand why they wouldn't try and grow revenue and reserves with another couple of acquisitions. The merger with DRM is a scrip deal. They have close to $120 million cash in the bank and cash in the bank isn't doing anything. At least some of it should be invested. I'd like to see SLR do a little more than just plod along with their Mount Monger operations. It's a nice little earner for sure, but for goodness sake do something meaningful with that huge pile of cash.


----------



## barney (22 November 2018)

greggles said:


> The thing that bothers me about SLR is the lack of imagination. I don't understand why they wouldn't try and grow revenue and reserves with another couple of acquisitions. The merger with DRM is a scrip deal. They have close to $120 million cash in the bank and cash in the bank isn't doing anything. At least some of it should be invested. I'd like to see SLR do a little more than just plod along with their Mount Monger operations. It's a nice little earner for sure, but for goodness sake do something meaningful with that huge pile of cash.




I get the feeling given that there is a bit more going on than is obvious Greg …

DRM have some good projects but probably didn't have the finance to bring them to fruition …. SLR do.

I think you will find that their spare cash will be well used in the short medium term ….. but that is just an assumption.

The Da Vinci projection of 100,000 ounces at a very low AISC in itself looks very profitable … SLR have the cash to turn this into  a lot more cash ….

Again I am only quoting from a "quick read" of announcements, so if I have the bull by the horns, my apologies.


----------



## greggles (22 November 2018)

barney said:


> I get the feeling given that there is a bit more going on than is obvious Greg …
> 
> DRM have some good projects but probably didn't have the finance to bring them to fruition …. SLR do.
> 
> ...




Perhaps I am being a bit harsh, but SLR has been undervalued for years and I think a lot of that has to do with the way it is perceived. It's long overdue for a re-rate but it keeps stalling. I'd like to see a bit more creative thinking by management but I suppose the merger with DRM is a good start. It does seem to have a lot of potential. Let's see how the next few months play out.


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## notting (23 November 2018)

barney said:


> DRM have some good projects but probably didn't have the finance to bring them to fruition …. SLR do.



And the best time to buy another goldie is when gold is in a funk.  It was a hard move to swallow for short term but longer term will serve them well as it did NST! 
When gold is doing well, when ever that will be, this thing will be a king maker!


----------



## aus_trader (23 November 2018)

greggles said:


> The thing that bothers me about SLR is the lack of imagination. I don't understand why they wouldn't try and grow revenue and reserves with another couple of acquisitions. The merger with DRM is a scrip deal. They have close to $120 million cash in the bank and cash in the bank isn't doing anything. At least some of it should be invested. I'd like to see SLR do a little more than just plod along with their Mount Monger operations. It's a nice little earner for sure, but for goodness sake do something meaningful with that huge pile of cash.



I am monitoring the progress of the merger and what the combined company will develop into. So just wandering with this scrip deal is it still going to result in having that 120m cash available for future projects or is some of it going to be used for the merger and integration costs?


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## $20shoes (28 December 2018)

I'll put SLR as my top pick for the Stock Tipping Competition for CY 2019. I'm basing this purely on some charting probabilities in GOLD and the current price structure of SLR. 

So currently with Silver Lake, we have price consolidating in a wedge like pattern after the most recent highs were reached in January 2017. I'm taking this as a consolidation while GOLD goes through and extremely complex ABC correction and we should expect prices to continue onward after this. I havent done a true Elliott Wave count but we may have completed Wave 1 and  2 in a 5 wave structure up.  

SLR continues to exhibit longer term strength IMO. I use the Stochastics in an unusual way - almost as short term trader (grey line) and long term investor (blue line) sentiment. You can see that trading in Aug 2018 and Nov 2018 pushed trading interest to oversold, while the longer term blue Stochastic remains elevated and in a more bullish posture. I'll take this as increased probability that a breakout above .60c will succeed. 

There's a chance that a very clear down leg in GOLD will eventuate in Q1 2019, but I expect a very bullish XAUUSD to exceed $1800 in later 2019, particularly if the markets show signs of tanking.


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## $20shoes (3 January 2019)

It's broken into a gallop today. May try and clear the 60c mark.


----------



## greggles (3 January 2019)

$20shoes said:


> It's broken into a gallop today. May try and clear the 60c mark.




It's time for SLR management to use that ~$120 million cash war chest to start adding value for shareholders. There is no need for the company to have that much cash in the bank earning a pittance in interest when it could be put to much better use. SLR is worth much more than the current share price would indicate but the uninspired management style is, in my opinion, stopping instos from getting on board and realising the true value of the company.


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## greggles (3 January 2019)

Just one further thought. With so much cash in the bank and $430 million in accumulated tax losses, SLR must be quite an appealing take over target, especially against the background of a bullish gold price and the recently announced merger with Doray Minerals.

~$120 million in cash, plus $430 million in tax losses, plus SLR's and DRM's gold assets has got to be an attractive proposition to some larger cap gold miners with an SLR market cap of only $300 million?


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## Miner (3 January 2019)

Today's volume level and price increase are rather interesting compared to last few days sales volume.
Maybe @greggles is on the money


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## barney (4 January 2019)

greggles said:


> Just one further thought. With so much cash in the bank and $430 million in accumulated tax losses, SLR must be quite an appealing take over target,




Absolutely …… It should be a good year for these guys if the ducks align.


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## greggles (4 January 2019)

60c appears to be a hard ceiling of resistance for SLR and while it broke through it a few times between May and July last year, it always ended up back down under it again. It would be nice to see SLR get above 60c and consolidate there, but we are going to need more volume and less supply.


----------



## barney (4 January 2019)

greggles said:


> but *we are going to need more volume and less supply*.




Or that Takeover offer you suggested


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## $20shoes (4 January 2019)

It will make an attempt. Its got some carry at the moment. Whether it holds is another matter.


----------



## barney (4 January 2019)

$20shoes said:


> It will make an attempt. Its got some carry at the moment.




Agree … and yesterdays bar was a solid looking confirmation if it holds ….. 

If we retrace and close at 54 cents or even 55 cents at this point would take a little bit of shine off the move …. not a big deal if it happened but not conducive to follow through in the short term.  Longer term however, it looks positive both T and F.


----------



## Smurf1976 (8 January 2019)

barney said:


> If we retrace and close at 54 cents or even 55 cents at this point would take a little bit of shine off the move …. not a big deal if it happened but not conducive to follow through in the short term.  Longer term however, it looks positive both T and F.



A low of 55 cents today and closed at 55.5 so basically it's at that level now.


----------



## barney (8 January 2019)

Smurf1976 said:


> A low of 55 cents today and closed at 55.5 so basically it's at that level now.




Yeah true … Volume was tidy though so still some buyers .... currently watch and see I guess … Under 54 with no Volume would not be ideal.  

Then again, if that eventuates, it could simply be a consolidation/ranging period ….. I still think this one will eventually get a real move on so shorter time frame moves should probably be treated as potential buying situations …. that's just my opinion however.


----------



## Smurf1976 (8 January 2019)

barney said:


> Then again, if that eventuates, it could simply be a consolidation/ranging period ….. I still think this one will eventually get a real move on so shorter time frame moves should probably be treated as potential buying situations …. that's just my opinion however.



Agreed. I'm holding it with a long term view at the moment (as was the intention).

The chart does look better than some other comparable companies in my view so I'll stick with this one.


----------



## $20shoes (9 January 2019)

barney said:


> Yeah true … Volume was tidy though so still some buyers .... currently watch and see I guess … Under 54 with no Volume would not be ideal.
> 
> Then again, if that eventuates, it could simply be a consolidation/ranging period ….. I still think this one will eventually get a real move on so shorter time frame moves should probably be treated as potential buying situations …. that's just my opinion however.




Yep, would want to see buying pressure today if there's short term interest in taking this over 60c.


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## barney (9 January 2019)

$20shoes said:


> Yep, would want to see buying pressure today if there's short term interest in taking this over 60c.




A lot of the smaller Goldies I watch are all trading on small Volume and treading water at the moment.  

Gold has moved fairly steeply since the August dip so maybe a bit more time required before the minnows catch up to the likes of NCM and NST who appear to on the move north again.


----------



## greggles (9 January 2019)

SLR just can't seem to gather any momentum. It's hard to know what the supply is like because the buyers just don't seem to be there at the moment. Only around 250,000 shares traded so far today. SLR is going to need a catalyst of some sort to get it above 60c.

There are still assays outstanding from the Santa North pit, so perhaps we'll get some good news when they are announced?


----------



## tech/a (9 January 2019)

Just having a quick look at the analysis discussed over the last week or so
and *I think you've all pretty well nailed it.*

Will need a catalyst to move higher with conviction.
That very high volume bar may turn out to be telling.
To the positive. Look for support here longer term.


----------



## $20shoes (30 January 2019)

Stopped out of my initial trade but I have SLR for Feb Comp. 
I'll call yesterday's gap up pretty bullish, but for the increased volume the range was about average, so the thrust up may have elicited some supply. That said, I'll keep this as a measuring gap until proven otherwise, and Id certainly have more conviction with a close over 56.5c.

I'm anticipating yet another crack toward 60c, and would expect some renewed buying interest if it can take this level.


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## greggles (14 February 2019)

$20shoes said:


> I'm anticipating yet another crack toward 60c, and would expect some renewed buying interest if it can take this level.




You anticipated correctly. SLR is having another crack at 60c and today's volume of more than 4.2 million shares leads me to think we may actually get above it this time.


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## $20shoes (14 February 2019)

greggles said:


> You anticipated correctly. SLR is having another crack at 60c and today's volume of more than 4.2 million shares leads me to think we may actually get above it this time.
> 
> View attachment 92187




It better Greggles. Stopped out twice trying to anticipate a move up. But nice clean move today. Looking better.


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## greggles (20 February 2019)

SLR has finally broken through resistance at 65c. If gold remains bullish and the merger with Doray Minerals goes ahead as expected, I imagine that we'll be back to 75c fairly soon.


----------



## greggles (22 February 2019)

SLR closed today at 73c, its high for the day and its highest close since February 2017. We're getting very close to five year highs. Volume increased on 14 February and has been well above average over the last few days.

With the merger with DRM scheduled to be implemented on 5 April, it looks like a lot of buying is taking place on the expectation that the merged entity will be added to an index (ASX 300?) which should generate institutional buying.

SLR is looking good.


----------



## barney (22 February 2019)

greggles said:


> SLR is looking good.




It always seemed a lay down misere this would move eventually …… They must have to step over all the cash getting to the coffee machine every day!


----------



## barney (27 February 2019)

Half year F/Report ….. Maintaining large cash levels while establishing future projects out of profit … chugging away nicely


----------



## HelloU (27 February 2019)

edit hmmmm


----------



## barney (28 February 2019)

HelloU said:


> edit hmmmm




Lol … very succinct @HelloU  … Had to have a breather after the recent steep rise … still chugging


----------



## HelloU (1 March 2019)

barney said:


> Lol … very succinct @HelloU  … Had to have a breather after the recent steep rise … still chugging



yes it was a waste of ur time, soz for that ( at least u were nice in response) ........ 

i had written a post about the profit levels (and if they were future good or not) but after I wrote it I saw some errors on my beer coaster and so deleted the post. I have not got back to the calcs as I have the attention span of a gnat but do have a little twinge in my stomach that only re-doing numbers can fix for me. The market will decide though and i do not hold so prolly will not get back to them.

Cheers.





(as penance ....LBL looks good, until the old blokes leave it...whenever that may be)


----------



## barney (1 March 2019)

HelloU said:


> yes it was a waste of ur time, soz for that ( at least u were nice in response) ........
> 
> i had written a post about the profit levels (and if they were future good or not) but after I wrote it I saw some errors on my beer coaster and so deleted the post. I have not got back to the calcs as I have the attention span of a gnat but do have a little twinge in my stomach that only re-doing numbers can fix for me. The market will decide though and i do not hold so prolly will not get back to them.
> 
> Cheers.(as penance ....LBL looks good, until the old blokes leave it...whenever that may be)




All good my friend … I also don't hold SLR …. but I think @greggles does so on his behalf, I follow it … and expect given their price to market cap ratio he will do quite well out of it in the longer term.

Daily gyrations can often be both annoying and misleading when dealing with stocks like SLR ……….. If the Co screws it up from their current cash strong position …… I would be both surprised …. and secondly … surprised ….. 

They are in a position of power ….. management should be able to navigate any short term issues and turn this Co into a powerhouse Gold Producer …. if they fail …. well  is all I would say 
Time will tell the story!


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## greggles (8 March 2019)

greggles said:


> With the merger with DRM scheduled to be implemented on 5 April, it looks like a lot of buying is taking place on the expectation that the merged entity will be added to an index (ASX 300?) which should generate institutional buying.




SLR added to the S&P/ASX 300 from the open on 18 March 2019.


----------



## Porper (17 June 2019)

Nice breakout today.





	

		
			
		

		
	
 Measured move out of the Basing pattern offers a target up around $1.50.

I Hold.


----------



## Porper (18 June 2019)

Porper said:


> Nice breakout today.
> 
> View attachment 95512
> 
> ...




I think SLR is a bit leaky!! Today's announcement was obviously known by a few!!

However, this is irrelevant from a trading perspective. Still a nice breakout following a long drawn out basing pattern.


----------



## notting (19 June 2019)

Was a bit leaky, I agree, but it's not as surprising as the market seems to think.
People taking notice and liking what they see!!


----------



## HelloU (1 August 2019)

this ega thing looks to have upside (upside for slr i mean)


----------



## barney (1 August 2019)

HelloU said:


> this ega thing looks to have upside (upside for slr i mean)




They've been busy the SLR chaps.  SP has been on a rocket ship for a couple of months.


----------



## HelloU (1 August 2019)

HelloU said:


> this ega thing looks to have upside (upside for slr i mean)



and seems upside for the ega bloke ...... this happened pretty fast ..... but that is the game .... none held of either.
(tny, hope it runs ....pilot 115 ...hello old friend, u still make me laugh)


----------



## barney (20 August 2019)

Porper said:


> Measured move out of the Basing pattern offers a target up around $1.50.




Fairly prophetic observation there Porper ….. Hope you capitalised on it

Since the recent sharp rise, SLR has been dumped like a hot potato …. I don't see any reason other than fear and greed, or possibly, greed and fear

The spike means lots of punters were in profit …. The market is getting twitchy so lots of punters are taking said profits.

Index's are starting to show volatility (short/medium term) … 

Gold is currently high but gold Stocks are also volatile ….. 

I feel a bumpy ride developing ……


----------



## Porper (20 August 2019)

barney said:


> Fairly prophetic observation there Porper ….. Hope you capitalised on it
> 
> Since the recent sharp rise, SLR has been dumped like a hot potato …. I don't see any reason other than fear and greed, or possibly, greed and fear
> 
> ...





Many of the gold stocks have tanked recently barney...well before Gold started to decline.

PRU & WGX especially (I hold both). You are correct, volatility is on the rise and I do not believe this recent rally in equity markets is the start of something bullish, just a bounce. Maybe totally wrong of course. Some exposure to Gold is worthwhile i.m.o.

SLR coming back to retest the upper boundary of the Basing pattern perhaps. If so I'll be looking to jump on again.


----------



## explod (29 December 2019)

My top pick for the 2020 comp. 

With exploration continuing in good dirt and the exuberance evident on the chart is my reasoning for this one.

I also believe that with uncertainty now in the world markets (IMHO), that the gold price will continue it's rise. Gold in AU$ is close to record territory now and should also be reflected in the Goldie's quarterly reports soon.


----------



## fergee (29 December 2019)

Looks like a big gap here at 1.245 on SLR, might be a really good buying opportunity if we see the gap closed.


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## joeno (7 June 2020)

Just spoke with my parents on the phone and they randomly bought a few k of this stock "cause it dropped recently" without doing any DD. how is SLR doing lately? It looks like it has a bit of a monster run up lately. is it investment grade? im seeing no dividends and very modest earnings.


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## qldfrog (7 June 2020)

Good to see you discussing a share related matter, slr is onevof ge few silver play in oz, silver has underperformed gold a lot and many believe it is due for a catch up.slr is a most favoured stock and i own as well.
My own view on silver is that it is half precious metal half industrial metal and as such does neither very well.in either boom time or crisis.
Not a great fan but slr is maybe a safe bet at time where we have both bull and gear pushing.
Imho no cause for alarm for me to hold at the current time


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## finicky (7 June 2020)

@qldfrog you're not thinking of Silver Mines (SVL)? Check out KCN if you like long term silver prospects? Depends on an international court win.
@joeno
If they only put in a few k it might turn out a good lesson for them. Silver Lake looks to be going quite well and turned in a good March Quarter. The most attractive thing about them to me is the growing cash pile; at end of March, cash/bullion = $227m, no debt and they also have a gold in ore stockpile of 76,000 ozs. With those liquid assets they're not growing broke and they'll have a lot of scope for development and acquisition options.

But I completely agree about the monster rally and the very ordinary earnings per share for which buyers are now paying a p/e of 65 on fy19 earnings, looks to be somewhat lower for est fy20. The return on equity for SLR is not as good as its rivals and related to this SLR has diluted their shares on issue worse than most. They had a terrible few years under Les Davis that completely turned me off them which turned out to be to my detriment because my prejudice stopped me looking at them when their earnings started to go positive and they had money in the bank but the shares were still being thrown away. Someone on a forum was pointing this out around 2017 but I refused to hear.

Just about all the Australian gold producers are looking overvalued, including the ones I hold. I will be paring back on mine soon but largely because I am expecting a general market crash in a few months. I can think of 6 producers that I would personally buy before SLR on 'fundamental' grounds, but I would buy only one on current valuation concerns: NST, SAR, RRL, RMS, EVN, WAF. Maybe you can talk them into spreading their risk money across all these if they get the itch again. It mostly depends on where the AUD Gold price is going in the year ahead doesn't it?


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## qldfrog (7 June 2020)

My mistake


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## joeno (8 June 2020)

@finicky thanks. taking a brief look I'm liking RRL purely from aea recent earnings and PE standpoint. It also pays a good dividend of 3%.

I've also had a look at SLR and it doesn't look as worrisome as i i thought. Especially as im fairly bullish on silver. They're had quite a profitable last 2 quarters (thought not as much before...). it is worrying they diluted the shares earlier this year.


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## Trav. (17 November 2020)

I have just started playing around with finding some harmonic patterns after reading the Harmonic Trader - Scott Carney and the first real pattern flagged up on my AB scan was SLR.

So out of interest I will post the chart and review in a month to see when the best exit was.

In Summary the scan found a completed AB=CD pattern and I have drawn some Fibonacci retracement lines to confirm the CD point was within the range of 127 and 161 - calculated value was 129 shown in green

I am interested to see what the best exit level would be so I have added some values on the RHS showing possible exits as I find the exit part the hardest part of trading.

Still a work in progress but I find it interesting to look at other methods and see if I can get my head around it.... I should have started this journey +20 years ago when I had a few more brain cells but this keeps me off the streets.


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## rnr (17 November 2020)

Trav. said:


> I have just started playing around with finding some harmonic patterns after reading the Harmonic Trader - Scott Carney and the first real pattern flagged up on my AB scan was SLR.
> 
> So out of interest I will post the chart and review in a month to see when the best exit was.
> 
> ...








Hi Trav,

This, I believe, is also a good example of an A-B-C correction. There appears to be support at the $1.80 to $1.90 level with a close of $1.92 today, which is the second close at that level in the last 4 bars.
Whilst price may move slightly lower over the next few days before hopefully moving upwards and exceeding the $2.75 high attained in late July of this year.

Cheers,
Rob


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## mullokintyre (23 July 2021)

SLR is looking good.
Very low P/E of 6.
Zero Debt.
330 mill in cash and bullion.
Small hedging position of 87,000 ounces at 2350 AUD an ounce.
Nice quarterly out for SLR. 
At top of guidance range fro production.
Expecting 230 to 250 k ounces  for FY2022., an increase of 15%.
AISC of 1550 to 1650 pretty good.
Bonus of 600 to 1000 tonnes of copper production.
as goldies go, its one of the better ones.
Mick


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## Beaches (23 July 2021)

SLR rewarded with an 9% drop at open


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## mullokintyre (23 July 2021)

Beaches said:


> SLR rewarded with an 9% drop at open



Yeah well its kinda hard to understand, but I will look at it as an opportunity to buy some more.
The question is, what will they do with the large amount of cash?
Will they look to add to their investment portfolio, will they put some out there as dividends?
Will they look at mm& A in the way EVN, NST and RRl have done with the swapping of assets?
Time will tell.
Mick


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## Beaches (23 July 2021)

While their forecast AISC at around A$1600 for 2022 is a little high for my liking (and an increase on the current year), I still think they are undervalued. The latest report did not warrant the drop today. Might look for an entry at these current levels


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## Miner (24 July 2021)

i have read the story published by SLR and tried to analyse market reaction's possible reason to bring price down today.
From very common sense it is  having a PE 5.3, free cash flow,  revenue little more than half a billion, todays transaction is almost ten times than yesterday's volume,
Quarterly Report :


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02398243-6A1042011?access_token=83ff96335c2d45a094df02a206a39ff4
		

Market over reacted on today's review and failed to read the real benefit from Deflector CIP Carbon in Pulp project completion at about $34 Million. That is a massive investment on CIP Upgrade. .
They have a recovery 88 pc (very low value in normal gold mining scene) and going to be increase 92 pc. It is a big deal to increase recovery by 1 percent to bring down the AISC significantly through increased production. SLR claims 4.5 percent recovery increase. That could be the basis of IRR of the $34 M investment.
If the recovery reaches as claimed, then I would not be surprised to see AISC reduces conservatively by $200 per oz. If it https://cdn-api.markitdigital.com/a...ess_token=83ff96335c2d45a094df02a206a39ff4was CIL plant then my confidence would have been more.

Surely experts will be analysing through out the weekend and SLR will show up on Monday.
If the price goes down further, at this time I am a bit of ambitious to buy more on Monday or next opportunity.
As always I dig holes so do your own research.


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## mullokintyre (26 July 2021)

Nice analysis Mr Miner.
However, the experts must have seen something else that we mere mortals are missing. 
Down a cupla percent again this morning.
Happy for it to keep going, as would be keen to add to my holdings at lower prices.
Mick


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## Miner (26 July 2021)

mullokintyre said:


> Nice analysis Mr Miner.
> However, the experts must have seen something else that we mere mortals are missing.
> Down a cupla percent again this morning.
> Happy for it to keep going, as would be keen to add to my holdings at lower prices.
> Mick



Mate @mullokintyre 
Yes, I saw the depression on SLR today. 
Certainly experts know better than many of us. If they know something not in public knowledge then that is an insider deal and not any expertise for me
On a side note  I  have heard the great saying : A fool did a job when experts said, that can not be done. It was because the fool did not know it could not be done and so did it.  
There were many experts during GFC who disappeared when the market crashed. 
Lehmann brothers failed and had many experts, who have  left the sunken  ship and working in other organizations- who knows?
In 2021 - my strategy is believing on myself on a front footing. Thanks to the i*nspiration received from @peter2 i*n one of his communication and comments to me, on this forum. 🙏🙏
Don't be fooled by my conviction as I was wrong many times and will be so today and in future. I am no expert . DYOR


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## mullokintyre (26 July 2021)

Miner said:


> Mate @mullokintyre
> Yes, I saw the depression on SLR today.
> Certainly experts know better than many of us. If they know something not in public knowledge then that is an insider deal and not any expertise for me
> On a side note  I  have heard the great saying : A fool did a job when experts said, that can not be done. It was because the fool did not know it could not be done and so did it.
> ...



According to simply wall street, some analysts are predicting a 10 to 12 % decline in profits for SLR for next three years.
Unfortunately, not  being willing to part with my money to  buy analysts reports, I don't have access to what  assumptions they make in these reports. Maybe they are assuming a higher AISC than what the company has stated, maybe they see gold falling over the next three years, who knows.
Mick


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## Miner (26 July 2021)

mullokintyre said:


> According to simply wall street, some analysts are predicting a 10 to 12 % decline in profits for SLR for next three years.
> Unfortunately, not  being willing to part with my money to  buy analysts reports, I don't have access to what  assumptions they make in these reports. Maybe they are assuming a higher AISC than what the company has stated, maybe they see gold falling over the next three years, who knows.
> Mick



I am a subscriber of simply wall street. Will have a look later tonight as currently busy on digging holes as my day job


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## bsnews (26 July 2021)

wow you really take being Miner seriously


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## Miner (26 July 2021)

bsnews said:


> wow you really take being Miner seriously



Hmm. @bsnews Do you think, I should not ?


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## bsnews (26 July 2021)

Miner said:


> Hmm. @bsnews Do you think, I should not ?



No I do not! I am fond of digging myself.
Man must dig we must dig or die!


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## BlindSquirrel (26 July 2021)




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## divs4ever (26 July 2021)

mullokintyre said:


> According to simply wall street, some analysts are predicting a 10 to 12 % decline in profits for SLR for next three years.
> Unfortunately, not  being willing to part with my money to  buy analysts reports, I don't have access to what  assumptions they make in these reports. Maybe they are assuming a higher AISC than what the company has stated, maybe they see gold falling over the next three years, who knows.
> Mick



 i do not hold  SLR 

  higher ASIC yes i can  imagine that might  be an industry wide trend  , but i would think commodity prices would stay resilient ( or maybe ever trend up  , i feel the global currencies are weakening , but it will SEEM that prices are rising  )

 maybe they foresee that epic crash , many have been worrying about for nearly a decade  .. all the wise money will be rushing  to reduce debt  , if there is a full-on crash 

 another  influence on ASIC might be the move to 'clean energy ' and costs associated with that


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## Miner (26 July 2021)

mullokintyre said:


> According to simply wall street, some analysts are predicting a 10 to 12 % decline in profits for SLR for next three years.
> Unfortunately, not  being willing to part with my money to  buy analysts reports, I don't have access to what  assumptions they make in these reports. Maybe they are assuming a higher AISC than what the company has stated, maybe they see gold falling over the next three years, who knows.
> Mick


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## Miner (26 July 2021)

Miner said:


> View attachment 127965
> View attachment 127966
> View attachment 127967



*CAUTION **- Please do not, I repeat, DO NOT make your decision based on the screen dump. 
There is a lot much information against this stock and due to probable copyright issues, I have only p*rovided a tiny fraction of information here. DYOR.  There would be many more data that would /could contradict the above. So please make your own analysis and judgment. The market is no fool. So smell the trend if it is smelling like rotten egg or jasmine and worse if your nose is blocked one. .


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## notting (27 July 2021)

Over the last few months the entire gold sector has been shaping up very nicely technically.  However it seems to be really struggling to follow through and the sort of investors who should be all over it and in the past would have been are now all over BTC. Gold seems to have much more competition!
Also the rising bond scare we had back a month or two ago that was seeming to be i line with inflation which again would traditionally make gold go up, made gold go down!!!! Due to getting some interest of Bonds buy not gold it seems.  Gold is in a flap and doesn't seem to be going anywhere fast.
Noting that NST, NCM and EVN which are quality gold stocks were all  down to day too.  If China makes a move on Taiwan Gold will go through the roof.


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## finicky (27 July 2021)

Most of the charts of the quality gold miners look uniformly s*#t to me, I'll be sticking with what I have but trying to control my hand like Dr Strangelove from buying anything more. Waiting for the crash to add and will be  considering SLR which is one I don't hold.


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## qldfrog (27 July 2021)

notting said:


> Over the last few months the entire gold sector has been shaping up very nicely technically.  However it seems to be really struggling to follow through and the sort of investors who should be all over it and in the past would have been are now all over BTC. Gold seems to have much more competition!
> Also the rising bond scare we had back a month or two ago that was seeming to be i line with inflation which again would traditionally make gold go up, made gold go down!!!! Due to getting some interest of Bonds buy not gold it seems.  Gold is in a flap and doesn't seem to be going anywhere fast.
> Noting that NST, NCM and EVN which are quality gold stocks were all  down to day too.  If China makes a move on Taiwan Gold will go through the roof.



nice to see you back @notting


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## mullokintyre (18 August 2021)

SLR annual report out today.
Nothing terribly exciting in it.
Good bits are Production up, sales up,  average price received up, net cash flow up, cash and bullion up by 23%.
Nil debt.
Bad bits are AISC up 15%, production guidance little changed on last year, ISC guidance up on last year
Still no dividend.
Intererstingly, gold in AUD about where it was a few weeks ago before the gold crash.
Will add some more at anything below 1.30.
Mick


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## Sean K (18 August 2021)

Hi team,

Dot points on why SLR has halved in 12 months?

POG down
High ASIC
??
????????

Surely some support at $1.20-30.


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## mullokintyre (18 August 2021)

mullokintyre said:


> SLR annual report out today.
> Nothing terribly exciting in it.
> Good bits are Production up, sales up,  average price received up, net cash flow up, cash and bullion up by 23%.
> Nil debt.
> ...



Bugger, missed out on that low ball 1.29 bid. 
Wonder if 1.295 was the low??
Mick


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## Joules MM1 (18 August 2021)

mullokintyre said:


> Bugger, missed out on that low ball 1.29 bid.
> Wonder if 1.295 was the low??
> Mick



127/128 would be nice https://www.tradingview.com/x/y5Bpq47D/
but now that'll likely take a few days to see if we'll get a probe to flush out weak holders(?)


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## Joules MM1 (23 August 2021)

1.285 on a decent divergence signal and a double bottom








						TradingView Chart
					






					www.tradingview.com
				



risk is close at hand


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## mullokintyre (23 August 2021)

What I thought was a low ball bid filled on friday.
Sit back now and wait.
Mick


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## frugal.rock (23 August 2021)

Have picked up some also.
Now when is this physical squeeze on silver and gold going to happen?


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## finicky (23 August 2021)




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## frugal.rock (24 August 2021)

mullokintyre said:


> What I thought was a low ball bid filled on friday.
> Sit back now and wait.
> Mick



It would appear that the timing was good.
Now for the bumrush after most metals having a good night?
Waiting for the bounce back after recent sell off from results, which appears to be overdone, IMO.


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## Joules MM1 (10 September 2021)

Feb 21st 1.28 double bottom yesterday off the rising channel today
odds fairly good we'll have a quiet day today friday across the board and + for SLR








						TradingView Chart
					






					www.tradingview.com


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## mullokintyre (13 September 2021)

SLR had a run today, up 5.5% today to 1.37.
other goldies kinds mixed.
Will be interesting to see if there is an announcement out within a few day.
Mick


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## mullokintyre (15 September 2021)

And right on cue they release a  "MINERAL RESOURCE AND ORE RESERVE STATEMENT AND OUTLOOK TO FY24  ".
The important bits 


> Group Ore Reserves of 1.36 million ounces gold and 5,300 tonnes copper, an 18% increase in absolute terms or 61% increase net of FY21 mine depletion   - Group Mineral Resources of 5.41 million ounces gold and 23,000 tonnes copper, a 2% increase in absolute terms or 8% net of FY21 mine depletion
> Sales growth to 255,000 - 275,000 ounces per year to be driven by the low cost, high margin Deflector region which delivered a sector leading 63% EBITDA margin in FY21  - Ore Reserves and the significant Mineral Resource inventory at established mining operations has the potential to maintain the production profile beyond the outlook period through further resource to reserve conversion and extensions - Strong free cash flow profile as the Deflector region accelerates underground development advance in FY22 which reduces in FY23 and FY24 - All of Silver Lake organic growth and LOM extension initiatives will be internally funded given the strong balance sheet and free cashflow outlook



I am sure this wasn not leaked to some market participants before the announcement .
Mick


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## explod (16 September 2021)

Got on board today, looks like good and fairly secure potential.

Just need the commodities to jump.


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## mullokintyre (28 September 2021)

SLR hit a 52 week low this morning, bit it has  a few mates.
Gold stocks very much out of favour.
Have got a fair bit in this one, but going to sit back and wait.
Mick


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## mullokintyre (19 October 2021)

SLR quarterly out.
On track for guidance gold production  and AISC for full year. 
Average Gold price of 2467 an ounce well above what the spot prices were in previous quarter.
Important bit is that cash and bullion increased by another 28mill to 359 mill.
So what do they do with all this mullah?
They have not issued dividends for years, but will they start now, or will they think about using some of this cash for acquisitions.
M & A will start to pick up pace methinks. Time to start looking at the geography of the mines versus plants to see what fits where.
RMS announced a takeover yesterday, be interesting to see who follows suit.
Mick


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## mullokintyre (22 November 2021)

Well SLR sort of followed the lead of RMS and EVN et el.
Announced that it had taken over the credit liabilities of Canadian listed miner/ explorer  Harte Gold.
said they will work with Harte to maximise its  potential, whatever that means.
Precious little other info provided.
Will need to go out and do some research on Harte to find out if its worthwhile holding SLR.
Mick


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## Telamelo (2 December 2021)

mullokintyre said:


> Well SLR sort of followed the lead of RMS and EVN et el.
> Announced that it had taken over the credit liabilities of Canadian listed miner/ explorer  Harte Gold.
> said they will work with Harte to maximise its  potential, whatever that means.
> Precious little other info provided.
> ...



It's a big win-win for SLR shareholder's as they've added this acquisition on the cheap given prior "unfortunate problems" with Harte due to mismanagement. 

Smart opportunistic move by SLR pouncing on Harte imo 


Also, nice to see SLR held it's 200dma strong support level yesterday so looking bullish imo

https://asx.swingtradebot.com/equities/SLR:ASX

P.S. AUD Gold price @ $2,510 +1%


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## mullokintyre (21 January 2022)

Telamelo said:


> It's a big win-win for SLR shareholder's as they've added this acquisition on the cheap given prior "unfortunate problems" with Harte due to mismanagement.
> 
> Smart opportunistic move by SLR pouncing on Harte imo
> 
> ...



SLR has been approved by Canadian Supreme court as the sucessful bidder for the carcass of Harte.
Lets hope SLR manage it better than the last lot.
Mick


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## mullokintyre (27 January 2022)

Slr qu@rterly out today. Most of it was telegraphed.
problem is their high costs.
already known  but the market seemed unhappy and went down another 6%..
definitely a buy for me at these prices.
mick


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## Sean K (27 January 2022)

mullokintyre said:


> Slr qu@rterly out today. Most of it was telegraphed.
> problem is their high costs.
> already known  but the market seemed unhappy and went down another 6%..
> definitely a buy for me at these prices.
> mick




Put that drop down to POG tanking at the 1850 mark. There's some significant short term volatility across the board to navigate at the moment. Not quite a flight of the starlings just yet.


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## mullokintyre (7 February 2022)

Announced today it is going to do a share buyback  up to 10% of its shares on the open market.
Bit disappointing that this is the best way to take advantage of  that excess capital its has  garnered recently.
Maybe they could not find something to buy anywhere else, buts its a pretty lazy way of doing things.
Having not paid dividends in recent times, surely they could have at least  sent it back to shareholders that way.
I guess it will keep a floor under the price for a while.
Have never liked share buybacks.
Will rethink this one.
Mick


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## mullokintyre (7 February 2022)

Thats it, most recent purchases gone for a small profit, the others may well join them in the exit.
There are other goldies, particularly outside of OZ that have more appeal.
Mick


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## Telamelo (18 February 2022)

Should see a decent sp spike today in *SLR* given Gold hit US $1,901 equates to AUD $2,641 !!!

Cheers tela


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## Sean K (18 February 2022)

Telamelo said:


> Should see a decent sp spike today in *SLR* given Gold hit US $1,901 equates to AUD $2,641 !!!
> 
> Cheers tela




Today will be a little bit of a test for gold equities. With the US down over 1%, our general market will also go down, but will it take gold stocks as well, even with the jump in POG? In the past, general market sell offs take gold stocks with it, but with this POG breakout north, is that a strong enough signal for goldies to go against the market trend? Hopefully the latter.


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## Telamelo (18 February 2022)

Sean K said:


> Today will be a little bit of a test for gold equities. With the US down over 1%, our general market will also go down, but will it take gold stocks as well, even with the jump in POG? In the past, general market sell offs take gold stocks with it, but with this POG breakout north, is that a strong enough signal for goldies to go against the market trend? Hopefully the latter.



In times of volatile market turmoil with Ukraine crisis unfortunately escalating.. Gold will shine brightly as a safe haven investment.

When Gold rallies then Gold stocks follow it's that simple. Our AUD Gold price could easily hit $3,000 per oz which means gold producer's would be minting money $$$ as their profit margins would be huge


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## Telamelo (21 February 2022)

SLR completes acquisition of Harte Gold in Canada  what a great bargain they acquired on the cheap with everything included as about 1Moz resource @ 7.2g/t gold.

Harte has tremendous exploration potential/scope as well so this is a big win-win outcome for SLR shareholder's going forward imo


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## mullokintyre (21 February 2022)

SLR half yearly out.
Interesting that they have 270 mill of tax losses on their books.
If gold keeps going up the way it has recently, won't take too long to knock that off. So any divs they might undertake (unlikely seeing as they  have said they will do share buybacks) would be without franking credits fir a while.
Despite spendong 100 mill on Harte acquisition, they still had a net cash increase of 40 mill for the half giving them  278 mill cash and bullion on hand.
The more I read about the Harte acquisition, the more I like it. 
It is not a big producer at 53k ounces pA., but SLR believes that can be improved upon greatly, and the exploration drilling sems a little haphazard, so they reckon they can improve significantly on the resource figures of 1.6mill ounces grading at a tad over 10 g/t.
Still holding, but will take some profits if its gets above 1.88.
Mick


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## Telamelo (21 February 2022)

Silver Lake (ASX:SLR) has become the latest Australian gold miner to expand into North America after sealing its slow moving acquisition of embattled Canadian gold miner Harte Gold.

Silver Lake has acquired the Sugar Zone mine in Ontario through the US$102 million deal, which will also see Silver Lake close out Harte’s out of the money gold hedge for US$24.8m and replace it with a US$22m gold pre-pay for 11,928oz over the the next 12 months.

Sugar Zone has been in production since 2019 and contains a reserve of 797,000oz at 7.2g/t, delivering 51,453oz at 6.5g/t in 2021.

But its resource contains a higher grade of 10.9g/t and Silver Lake views the project as a window into a major exploration opportunity, saying it now holds “one of the largest exploration properties within a prolific metals district in Canada.”

Silver Lake made a $44.5m profit after tax in the first half of the 2022 financial year, down from $65.8m a year earlier due to larger depreciation and amortisation charges at Deflector.

EBITDA was relatively stable at $157.6m (compared to $160.1m in 2021), with gold equivalent sales down from 130,718oz in H1 2021 to 126,718oz in H1 2022.

SLR had $277.9m in cash at the bank as of December 31.

It has set guidance of 235,000-255,000oz gold and 600-1000t copper sales at all in sustaining costs of $1550-1650/oz in 2021-22.


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## Telamelo (2 March 2022)

Ord Minnett released a "buy recommendation" note with forecast target price of $2.30 this morning!


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## Telamelo (4 March 2022)

Another reputable newsletter recommendation upgrade released per excerpt below:

" Right now, *Silver Lake Resources is a solid buy*. If you don’t own this already, it’s a good time to add it to your portfolio.

*Action to take: BUY Silver Lake Resources [SLR] shares up to $2 "*


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## Joe Blow (4 March 2022)

Telamelo said:


> Another reputable newsletter recommendation upgrade released per excerpt below:
> 
> " Right now, *Silver Lake Resources is a solid buy*. If you don’t own this already, it’s a good time to add it to your portfolio.
> 
> *Action to take: BUY Silver Lake Resources [SLR] shares up to $2 "*




Which newsletter is this? Please always cite the source of any third party analysis or recommendations.


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## Telamelo (4 March 2022)

Joe Blow said:


> Which newsletter is this? Please always cite the source of any third party analysis or recommendations.



Fat Tail Investment Research


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## Joe Blow (4 March 2022)

Telamelo said:


> Fat Tail Investment Research




I just took a look at their website and they publish a number of different newsletters with different risk tolerances. Which one was this recommendation from?


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## Telamelo (4 March 2022)

Joe Blow said:


> I just took a look at their website and they publish a number of different newsletters with different risk tolerances. Which one was this recommendation from?



Rock Stock Insider


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## finicky (4 March 2022)

Yeah Rock Stock Advisor, Mar 3, part of Fat Tail stable. Brian Chu estimates value is higher but don't pay over $2.
Greg Canavan's Investments, also part of Fat Tail, still has a buy on it as at Mar 1 but recommended his intial buy back at 24/11/21 @ $1.70


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## Garpal Gumnut (4 March 2022)

Telamelo said:


> Rock Stock Insider



So what makes them any better than Commsec refugees, now respected members of ASF, any better at predicting the future price of SLR ?

gg


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## Telamelo (4 March 2022)

finicky said:


> Yeah Rock Stock Advisor, Mar 3, part of Fat Tail stable. Brian Chu estimates value is higher but don't pay over $2.
> Greg Canavan's Investments, also part of Fat Tail, still has a buy on it as at Mar 1 but recommended his intial buy back at 24/11/21 @ $1.70



Oh that's good/handy to know.. thanks mate


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## Ann (20 March 2022)

Just playing with volume spikes again and watching what they do, I already posted this chart down on Skate's Dump it Here thread but I should add it to its own thread.

I am thinking there may be a fallback in SLR's price if indeed this most recent spike is heralding a top. We won't know for a few days of course but if I had planned to buy this I might wait. However, I had not planned to buy this as it is too far away from the 200dma for my taste. I am past buying into bubbles and sucking up big drawdowns, those days are passed for me! If I miss a rise, tough!


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## rnr (20 March 2022)

Ann said:


> Just playing with volume spikes again and watching what they do, I already posted this chart down on Skate's Dump it Here thread but I should add it to its own thread.
> 
> I am thinking there may be a fallback in SLR's price if indeed this most recent spike is heralding a top. We won't know for a few days of course but if I had planned to buy this I might wait. However, I had not planned to buy this as it is too far away from the 200dma for my taste. I am past buying into bubbles and sucking up big drawdowns, those days are passed for me! If I miss a rise, tough!








Hi @Ann,

I get your line of thinking and your thoughts probably wouldn't change if you were aware that the latest 
price action partially closed an 8.5¢ gap by 2.5¢.
Will it take a short breather before attempting to close the gap totally.

Cheers, Rob


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## Ann (20 March 2022)

rnr said:


> I get your line of thinking and your thoughts probably wouldn't change if you were aware that the latest
> price action partially closed an 8.5¢ gap by 2.5¢.
> Will it take a short breather before attempting to close the gap totally.



Interesting to watch Rob, it may even try to close that gap you mentioned now with a major leap up to the 2.28 level, 10c wouldn't be too big a call, before it falls back. However, this volume stuff may just all turn out to be random BS which I always considered it to be over the years. Although the more I look, the more I see and what I am seeing is rather leaving me open-mouthed.  I am seeing market tops being called and I kid you not I am seeing the bottom being called as well. It is most evident on US ETFs but it is also happening on the local ones as well. I want to watch for a bit longer before I trade using it with full confidence but crikey, there is something to it! I am not sure if it translates as reliably on these ordinary stocks, that is why I am watching so closely and putting it out.  I have this overwhelming feeling there is a huge group of traders rolling their eyes at me saying, finally you have worked this out!


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## qldfrog (21 March 2022)

Ann said:


> Interesting to watch Rob, it may even try to close that gap you mentioned now with a major leap up to the 2.28 level, 10c wouldn't be too big a call, before it falls back. However, this volume stuff may just all turn out to be random BS which I always considered it to be over the years. Although the more I look, the more I see and what I am seeing is rather leaving me open-mouthed.  I am seeing market tops being called and I kid you not I am seeing the bottom being called as well. It is most evident on US ETFs but it is also happening on the local ones as well. I want to watch for a bit longer before I trade using it with full confidence but crikey, there is something to it! I am not sure if it translates as reliably on these ordinary stocks, that is why I am watching so closely and putting it out.  I have this overwhelming feeling there is a huge group of traders rolling their eyes at me saying, finally you have worked this out!



Volume is key, i am sure.
I tried getting some volume inputs into my systems.
Several times , i thought:...got it..
but not sure yet...
I have to let time validate.
With systems, a lot of noise can influence trades ..and systems do not know about news, channels, etc so this is raw but volume and price actions are the key i am nearly certain.
You are probably on the good track @Ann...so do not hesitate to tell us the holy grail recipe if you find it 😁


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## finicky (21 March 2022)

BtL Finance talking about gold, GDX, and a few gold stocks incl SLR.
He's optimistic but gives his levels lower at which he would be selling.


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## mullokintyre (28 April 2022)

Quarterly out today, not terribly outstanding.
Both Quarterly gold price and quarterly AISC only marginaly higher than years average.
Cash and bullion at 287 mill only 9 mill ahead of the December quarterly,  after spending on the Harte acquisition, so not throwing out the free cash flow currently.
Heading to meet full year guidance.
However, they are unable/unwilling to provide  Q4 operating performance, which seems a bit odd given their statement that they are "positioned" to meet full guidance for either the quarter or the next fin year.


> YTD operating performance has Silver Lake positioned to meet FY22 guidance. However, the severe disruption caused by COVID-19 related labour shortages (which has intensified in March and April) and the related supply chain interruptions are expected to continue. Accordingly, Silver Lake is unable to predict Q4 operating performance with an acceptable level of confidence for stakeholders to rely on, and is withdrawing FY22 guidance.



The market hates uncertainty.
It may get marked down because of the above.
Perhaps they are looking for a share drop as they do their share buybacks.
Mick


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## mullokintyre (28 April 2022)

mullokintyre said:


> Quarterly out today, not terribly outstanding.
> Both Quarterly gold price and quarterly AISC only marginaly higher than years average.
> Cash and bullion at 287 mill only 9 mill ahead of the December quarterly,  after spending on the Harte acquisition, so not throwing out the free cash flow currently.
> Heading to meet full year guidance.
> ...



And right on cue, Mr Market is not happy.
Down 10% on the open, so I took the hint and bought a little more.
Mick


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## CityIndex (28 April 2022)

By withdrawing guidance, Silver Lake joins the recent theme seen across various mining companies citing uncertainties stemming from staffing pressures and supply chain disruptions. 

It'll be interesting to see what the impact of this actually has when these companies release FY2022 results.


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## mullokintyre (27 July 2022)

Quarterly results out.
JUNE 2022 QUARTERLY ACTIVITIES REPORT
 ▪ Quarterly production of 65,844 ounces gold and 235 tonnes copper (66,947 ounces gold equivalent1 ) with sales of 66,819 ounces gold and 210 tonnes copper at an average sales price of A$2,528/oz and AISC of A$1,979/oz (including a A$82/oz non-cash inventory charge associated with the treatment of Mount Monger stockpiles) 
▪ FY22 production of 251,887 ounces gold and 991 tonnes copper (256,538 ounces gold equivalent) with sales of 251,686 ounces gold and 907 tonnes copper at an average sales price of A$2,462/oz and AISC of A$1,756/oz
 ▪ Sales from the Western Australian operations (236,974 ounces gold and 907 tonnes copper at AISC of A$1,729/oz) were within the withdrawn FY22 guidance range with AISC marginally above the top end of the range Deflector 
▪ Quarterly gold production of 31,150 ounces and 235 tonnes of copper (32,253 ounces gold equivalent) for record annual gold production of 124,602 ounces and 991 tonnes copper (129,253 ounces gold equivalent) 
▪ Record quarterly gold sales of 33,455 ounces and 210 tonnes copper at an AISC of A$1,504/oz for record annual gold sales of 123,099 ounces and 907 tonnes copper at an AISC of A$1,392/oz Mount Monger 
▪ Quarterly gold production of 23,058 ounces with sales of 23,528 ounces at an AISC of A$2,392/oz (including A$232/oz of non-cash inventory charge associated with the treatment of stockpiles) for FY22 production of 112,384 ounces and sales of 113,874 ounces at an AISC of A$2,077/oz Sugar Zone
 ▪ Quarterly gold production of 11,636 ounces with sales of 9,836 ounces at a AISC of A$2,606/oz for the first full quarter under Silver Lake ownership
 ▪ Implementation of Silver Lake’s operating structure and key capital projects to deliver improved productivity and cost reductions underway Exploration 
▪ $4.2 million investment in exploration targeting infill, extension and discovery within proven mineralised corridors proximal to infrastructure Corporate and Finance
 ▪ Cash and bullion of $313.8 million at quarter end (which excludes $19.9 million of gold in circuit and concentrate on hand, at net realisable value) reflects an underlying2 $29.0 million cash build during the quarter Outlook 
▪ FY23 group sales guidance of 260,000 to 290,000 ounces at an AISC of A$1,850 to A$2,050 per ounce (including $107 per ounce in non-cash inventory charge associated with the treatment of stockpiles at Mount Monger). Midpoint of FY23 sales guidance represents an 8% year on year sales growth on an absolute basis and 7% growth on a sales per share basis 


The thing that stands out is that one  can see the AISC starting to  get higher every year.
This past quarter saw the Harte acquistion losing money with an AISC of AUD$2606 for the quarter.
Harte is paid for, but they had better reduce the costs at Harte, because based on the AISC, the cost cutting program had better kick in  quick smart or it will go the same way as Evolution's Red Lake purchase.
Has plenty of cash, question is what are they going to do with it besides do a share buyback.
Starting to lose a bit of faith in this one, and may look to reduce exposure.
Mick


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## noirua (30 October 2022)

Silver Lake Resources (ASX:SLR) reports "good progress" in September quarter despite operational challenges
					

Despite a "challenging" operating environment, Silver Lake Resources (ASX:SLR) has reported making good progress across its project portfolio over the September quarter.




					themarketherald.com.au
				



Despite a “challenging” operating environment, Silver Lake Resources (SLR) has reported making good progress across its project portfolio over the September quarter.

For the three months to September 31, the company produced 59,935 ounces of gold and 273 tonnes of copper.

Silver Lake sold 58,794 ounces of gold and 246 tonnes of copper at an average gold sales price of A$2502 per ounce and all-in sustaining costs (AISC) of A$2052 per ounce.


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## mullokintyre (31 October 2022)

W


noirua said:


> Silver Lake Resources (ASX:SLR) reports "good progress" in September quarter despite operational challenges
> 
> 
> Despite a "challenging" operating environment, Silver Lake Resources (ASX:SLR) has reported making good progress across its project portfolio over the September quarter.
> ...



Highlights why so many OZ goldies have been crunched.
Those AISC figures are, excuse the pun, unsustainable.
The costs are only going one way.
Mick


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