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SLR - Silver Lake Resources

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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 said:
this ega thing looks to have upside (upside for slr i mean)
Click to expand...
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)
 
Porper said:
Measured move out of the Basing pattern offers a target up around $1.50.
Click to expand...

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 ……
 


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.
 
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.

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

 


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
 
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
 
Beaches said:
SLR rewarded with an 9% drop at open
Click to expand...
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
 
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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