SLR - Silver Lake Resources

[Smurf1976]

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]

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]

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]

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.

 

[barney]

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]

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]

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]

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.

 

[greggles]

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.

 

[$20shoes]

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.

 

[greggles]

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]

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]

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]

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

 

[HelloU]

edit hmmmm

 

[barney]

edit hmmmm

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

 

[HelloU]

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]

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!

 

[greggles]

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]

Nice breakout today.

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

I Hold.