SLR - Silver Lake Resources

[pixel]

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.

 

[noirua]

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

 

[greggles]

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.

 

[tinhat]

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.

 

[greggles]

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.

 

[greggles]

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?

 

[tech/a]

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.

 

[explod]

Yo did it well greggles. Healthy

 

[greggles]

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.

 

[greggles]

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.

 

[greggles]

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.

 

[tech/a]

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

 

[greggles]

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.

 

[greggles]

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.

 

[greggles]

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%.

 

[barney]

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

 

[barney]

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 …

 

[greggles]

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.

 

[aus_trader]

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.

 

[notting]

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!!!