25% up on a day the rest of the gold stocks didn't do much - either some news hasn't been released or the day traders are piling in en-mass
I want to get excited but to scared too. I've been burned to many times. Well that's 100% profit in 1 month, so I'm going to expect some heavy selling soon, unless some big news. does anyone know what their current hedging situation is and when it will be complete?
I averaged my buy in at 17.6 cents Current paper profit would equal enough 1kg silver bricks for a serious weight workout. I'm holding out for the long term in the dollars range though, it's my only really big long term speculative play. As usual, with hindsight, should have bet the farm. The tell that SLR was rock bottom was when they held fast during the recent crashes.
Riddle me this.... Back in October 2015, gold and gold miner shares had a cycle top. In $AUD the gold price hit $1650, in $US the gold price hit $1182 - both of these tops have been taken out fairly convincingly now in the last day or so. Newcrest shares hit $15.79 in Oct 2015 and today their shares powered through that high to reach $16.83 Silver Lake Resources hit $0.30 in Oct 2015.....but today they are still building slowly to only $0.26 and SLR hasn't taken out its previous top. No indications at all that a top has been reached. Volume for SLR is still fairly light and volatility is low. It just looks to be going about its business and building steadily.... Is the market asleep? Is SLR just a well kept secret? Surely if the run on bank stocks continues, some panic about system stability starts to hit the US tonite and the $1200 USD resistance level gets broken, the upside for SLR is still pretty substantial. Still worth a punt I reckon. What am I missing?
Yeah it's a mystery Bug, there are 2 camps here one suggesting it's due to pop and the other saying it's running low on mine supply and needs a new find soon.Prefer this stock as a short term trade while my favourites SAR and BLK have great long term prospects. Still holding SLR but just can't quite work out which camp to be in.
No, I'm not missing that at all Was just wondering if there was more to this story. I know there are a few SLR shareholders amongst the SS crew who might have an insight....or might confirm that the market has been slow to react to the gold surge by pushing up SLR valuation.
Yeh, you can put me in that camp until further notice Volume on SLR was up to 8.7 million today which is high, but nowhere near the previous run up, peak or even the last cycle low. That says to me that it's got some room to run...
I think it was one of the big ringers when we had the last bottom and then pop, people who got in at 15c are pretty happy already and most waiting for their speculative ship to come in. Those getting in now on the back of higher prices are going on for the big guys who will be able to provide great top and bottom line results as well as dividends at $1700aud gold like newcrest. My family has some SLR, I'm just one of those stubborn people who can't buy something a lot more expensive than I paid last time even if the business situation has changed. I like the company, if you think this is the start of the big run up then it's definitely worth putting some in your pocket or adding to what you already have. If you're on the fence and worry we might make new lows still then buying one of the big boys means you know you'll still have a company there when you've survived that and new highs come in a year or two.
If/when gold really exits the bear market, the real cheddar will be made in micro caps sitting on large known reserves that can't raise the capital at these lower prices to start development as there is simply no interest in gold stocks yet from the big institutions. Once gold closes at above $1220 on the week, I'll be seriously looking at companies like ABU, PGO, CTO, SVL and MSR. All extremely high risk and more than likely will be flops, but all potential 100 baggers if any of them can get up and running. I already own small stakes in KGD, CAS and MOY which are in the same category. MOY was up about 23% today on debt reduction news.
I'm up 40% on SLR in my private fund, and 60% in my SMSF I'm in it for the big end game though, so not even thinking about selling. It's the big play in my portfolio. If it ever gets back to the levels from 3 years ago I'll report back from my private yacht
Wow this has finally grown some legs, you"d be one happy bug now Bugged out, probably even happier tomorrow, well done and well called.
Holy Rally Batman EVN is even better for me, percentage wise anyway, I got in at $1 and now up 88% But my SLR went up many 4 digits today OOO keeps getting smacked down though, it's dragging me to the ocean floor where they found it
