Silver Lake Resources (SLR)

Thank God I got out when I did. I feel for all current holders that have ridden this to these levels.
 
:) my mate and i have just picked up 2 freehold blocks not far at all from one of their Ravensthorpe tenements.

Raventhorpe has a 100 year history of "difficulties" when it comes to mking a $$ from your mine.

IMHO, anyone hitching their entire wagon to any hole in the ground around Ravensthorpe needs their head read.
 
trew said:
Greenman - so what goldies were you referring to that are going up ?
Click to expand...

None today, that's for sure!

Not wanting to go OT, but BGS is one of my main holdings now. It's upside doesn't rely solely on the price of gold (just a gold resource LOL)
 
From buying at $0.76 to $0.46.. not sure if I should wait till it recovers till at least $0.50 then sell off?
Definately not a winner.
Hold? Sell?
Would love anyones opinion?
 
I've been buying from .84 to .48. My price average is .645. I'm holding for the long haul so I'm not really concerned with any further short term downwards movement but I will probably top up some more if it goes below .40.
 
Just read the last quarterly:

http://www.aspectfinancial.com.au/d...Jyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true

-Cash and bullion on hand totalling $25.6million
-Debt totalling $20million

-Produced 60,000,000 ounces of gold (I believe they are aiming for 180,000-200,000oz pa so 45,000 ounces a quarter.)
-Mount Monger produced 45,000 ounces of that (September quarter)

-Unprocessed ore stocks available for mill feed ~1.7million tonnes containing roughly ~71,000 ounces of gold. this has been mined already and is just sitting there waiting to be processed. SLR could put their mines on care and maintenance and still produce that ~70,000 ounces of gold.

-Guidance for Mount Monger is 120,000-130,000 ounces pa.
-Mount monger all in cash cost is $1,098/oz AUD
-$30,000,000 in profit before tax and royalties from mount monger at gold price of $1350 AUD. they could shut down Murchison and survive off Mount Monger if worst came to worst.
-Murchison all in cost $1,919 AUD. This IS going down and should continue to go down.
-All in cash cost for the quarter was $1,271/oz AUD.

-SLR has ~6.4million ounces worth of gold deposits.

IMO things aren't looking too great for SLR and this sell off is definitely warranted but I don't see SLR going under anytime soon. Im still holding and waiting for the right time to top up. $150,000,000 market cap would be nice.
 
Whether they go belly up is a question of how long / low the gold price goes.

Management can't control the gold price but raising equity when they did was a pretty clever thing to do.
 
Ausecon said:
Management can't control the gold price but raising equity when they did was a pretty clever thing to do.
Click to expand...

Agreed. This one will bounce back a bit in the coming days, but I don't think future LT holders should jump in just yet.
 
Came so close to jumping in today - but my hands still have cuts from the last time I caught falling knives
 
Don't touch it. Not till it turns and confirms imo. This one is acting badly. There's no way to be sure it's just the gold price. It could be just the gold price and this one has a small margin, but you can never tell with a goldie if there is another issue. Management are the last ones you'll hear it from. It failed to get back above 50c over the previous 3 trading days and today gapped down making a big bodied red candle on high volume. I should've posted on the 27th but was afraid of being wrong.

1893_slr_1_mth_dec_3.gif
 
You must log in or register to reply here.
Back
Top