SLR - Silver Lake Resources
- Thread starter Uncle Festivus
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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.
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.
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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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.
Bought in to offset, Gold is on the rebound, but still amazed/bewildered at the recent tank.
tinhat
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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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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.
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.
G Gekko
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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.
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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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
tinhat
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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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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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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.
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.
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.
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.
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..........?
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.
G Gekko
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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.
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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Well I topped up on Friday, not expecting a 5% tank today. If your willing to slip in now by all means! Good Luck!
