Australian (ASX) Stock Market Forum

SLR - Silver Lake Resources

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

Screenshot_20210824-090751.png
 
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
www.tradingview.com

Chart Image

www.tradingview.com www.tradingview.com
 
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
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I am sure this wasn not leaked to some market participants before the announcement .:mad:
Mick
 
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
 
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
 
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
 
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.
Will need to go out and do some research on Harte to find out if its worthwhile holding SLR.
Mick
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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% :)
 
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 :)


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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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
 
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
 
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
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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.
 
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
 
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
 
Telamelo said:
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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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.
 
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.
Click to expand...
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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