Huge gain in SLR today on the back of some excellent quarterly financial results. I'm not sure how much longer they can hold out not paying a dividend, they are just accumulating cash and bullion hand over fist. And still no debt. https://www.asx.com.au/asxpdf/20191011/pdf/449d1v0pk88k19.pdf
Just came across an article that, if it comes to fruition, may help pull the price down a little. "Big Warning in Gold’s COT Data The most recent Commitment of Traders data from the CFTC showed net commercial short positions at the largest level in the thirty-three-year history. Speculators had the second highest long positions. The RSI of the COT numbers are in a bearish divergence as only seen five previous times (7/23/93, 1/18/08, 11/27/09, 7/18/14 & 7/8/16). This makes gold extremely vulnerable. The cleanout of weak longs should see the price decline by 15% or more (below $1340). It will likely take a minimum of six weeks in a choppy manner with possible retracement rallies of 50% from the $1543 high of September 25th."
The recovery continues since the Egan Street buyout was settled. Still over $150M in cash, no debt, and production is really ramping up. Any large increase in gold price will make SLR really take off.
Another 7% jump today, not really off the back of anything either that I can tell. View attachment 31068
Hope the ASX200 reweight the gold miners. Atm SLR is only 0.05%, be good to get it up to 0.15% then we will be back at 2011/2012 prices
SLR going gangbusters again. Fantastic recent quarterly report. Getting toward $200M in liquid assets, still no debt, it's a cash producing cow! Looking like a breakout in the share price.
Your wish is granted courtesy of the best performing gold stock going around. Milking and hoarding cash like crazy. Up over 3% again today while everyone else is down. Clearing $2 is as near to a certainty as you'll get in the market at the moment.
I bought all mine back in those 15c days. Sold a bunch at 50c or something to get my money back and free carry the rest. With hindsight should have just kept them, could'a-should'a. Still I'm very happy
Yep, people no doubt having to sell of one of their best performing stock profits to cover loses elsewhere. No fundamental reason for this stock to get hammered, it has no debt and hundreds of millions of dollars in cash.