Not sure where they are heading but the fall is abyssal... I regret holding on to them even though I don't have much. Getting unsure where they are headed, looks like this is not slowing at all however. Talk about catching a falling knife!
Are there any recent articles or reports about the state of the company? A lot of the stuff I've found seems a little out of date...at these prices I'm definitely interested if there's a company left to buy into. I'm way over invested in metals and mining companies but this is definitely interesting. When gold hits $2k and silver breaks $50 I'll diversify. I'm trying to save some money for bargains like this but if the asx keeps going the way it is there might be plenty of non commodity bargains about.
Jump on the ASX and have a read through a few of the reports for reference. These will be their latest publicly announced information. They have put some operations on maintenance, sold/leased mills and are scrambling to bring all-in cost under control with their lower cost operations. They are really just in a fetal position trying to weather these lower prices - mining just enough to pay their bills. With so much negative news about the metals most are very unloved. SLR have many low-cost deposits which would be cashflow positive however, capital raising etc. in the current environment would spell more dismay for these guys in the short term. I like their overall business operation which is made up of some fantastic assets. The only thing holding them back from their full potential, like most gold stocks, is a low price in Au. With a market cap <$100m and holding so many great assets i might pick up another parcel in the New Year. I won't catch the falling knife with these guys - but at $0.15/share it could make for a turnaround story of the decade. DYOR.
Such an erratic stock, either does really bad or really good. Good on anyone that picked some up at 15c.
No body understands their strategy. Produce as little as possible gold to keep mines from care and maintainace while prices are low. Why depleate resources for less money. It's a gamble but might pay off for them
Source: http://www.afr.com/markets/equity-markets/price-target-cut-on-silver-lake-resources-20150423-1mrilh 52cents a share... now that would make many holders happy!
I have lost a fortune on SLR, so much that I have already written off as a 100% loss. So any price is good. I was thinking of selling now and buying back just to get the big red number off my portfolio. It Is depressing. I have hedged my bets on much higher gold prices. This is the only one that has hurt me though.
I lost on this one too your not alone - I should have banked on NST. When the gold price goes up SLR goes up a little, when the gold price goes down SLR goes down a lot. It's a horrible little stock. Get rid of it so you can offset the loss against any gains. Trust me you will have plenty of time to buy back in on this one, but there are better gold stocks out there. Maybe go for an index/sector play?
Yes I have lost on SLR too! It's been a baaaad run downwards. So many have been burned in this one. Should have sticked to large cap like NCM, or pretty much any other gold stock for that matter. Even KCN hasn't been as bad. Don't know if SLR can go down much further, 18cents now... And to think it was $4 two and a half years ago! For someone who would have bought near the top, I can't imagine the pain it must have been. Anyway if it could regain a bit that would be nice. 52 cents ... Don't think I see it happening, but even half that would be good, say mid 20s range... Or a take over, now that would be sweeeet
I bought in at 25 cents, so not a huge loss for me. Also at 23 cents and a small top up at 17 cents. I'd be stoked if is hit 52 cents.
Looked at that last night also OOO saw someone on here had mentioned it. I like the basket sector plays. I'm one of those guy's who's stock seems to fall and never get back up once I bought.
That was me, I've made 24% on OOO in the last 4 months. Then again, I've made the same gain with Origin ORG and 130% on TON as a speculative.
I dont know much, even less about ETF's how can one buy the XGD index? I went through all the info on Commsec, and cant find any one of their providers having it.
It's more of an indicator of the gold companies and the gold market, I'm not sure you can buy it? If you want gold you can buy Betashares QAU
Other ETF's exist on Betashares like the commodities (QCB) one which is near rock bottom at present: http://cms.betashares.com.au/cms-admin/_images/1846286324553dd9ac1e8e9.pdf
