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SLR - SILVER LAKE RESOURCES LIMITED


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Not sure why they would pick SLR as a shorting stock , they are producing gold, their forward P/E is under 13, and are expecting production to be in the upper end of guidance.

maybe they know something we don't.

 

Shorters may have anticipated this - a CR north of $600m (reported in AFR)

 

Silver Lake's Thunder Finco is seeking to raise north of $600 million and has turned to the US Term Loan B market.

 

The funding is split into a $US285 million ($416 million) first lien term loan, $US100 million in second lien money and a revolver and capex facility expected to be worth about another $US50 million

https://www.afr.com/street-talk/funding-pit...20191115-p53ays

 

Another notable short alert on Thursday Total short positions as at 11/11/10 = 6.99%

 

Thu 14th Nov, 2019 4,215,727 819,800,012 0.51% 70.01%

 

https://www.shortman.com.au/stock?q=slr

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The Silver Lake reported about in the Article you quoted is not the SLR we all know and love.

The article is about a US private equity firm called Silver Lake. I am not aware of any connection between SLR and the US company Silver Lake Equity partners.

 

From oberver

 

TEG, the Australian live entertainment giant and Ticketek owner, has been acquired by Silver Lake, a U.S.-based private equity company which specialises in technology investing.

 

TEGâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s management team, led by its Sydney-based CEO Geoff Jones, will continue to run the business and keep equity in the new ownership structure.

 

Mick

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  • 2 weeks later...

Macquarie initiates coverage of SLR with outperform rating

Gold miner and explorer Silver Lake Resources has jumped out of the blocks today, helped by a bullish broker note from Macquarie Research.

 

The investment bank has initiated coverage on the stock with an outperform recommendation and price target of $1.40, significantly higher than its present trading level.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“SLRâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s acquisition of the Deflector Gold mine via its merger with Doray Minerals in April 2019 was key to growing SLRâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s production and lower group AISC. We expect Deflector to continue its year-on-year production growth trend since first gold in mid-2016 with a modest guidance beat in FY20 after a strong first quarter in FY20,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ Macquarie said.

 

Importantly, we are confident that recent strike extension drilling success will translate to at least another 1.5 years on the more than three-year mine life currently in reserves.

 

Macquarie anticipates gold sales from Deflector of 92,000 ounces at an all-in sustaining cost (AISC) of $A1,225 per ounce against guidance of 85-90,000 ounces at an AISC of $A1,200-1,250 ounces.

 

SLR shares have spiked in response to Macquarie initiating coverage of the company, lifting 5.7 per cent to $1.11. The broader All Ords gold index is currently up 1.8 per cent for the session.

 

Total short positions have been coming down - as at 20/11/19 = 6.06%

https://www.shortman.com.au/stock?q=slr

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Makes for good reading Mick

 

I liked pg 9 of recent PRU quarterly, Yaoure should add 230k oz per year if you do the maths when it comes online, current production from half year from would be 270k oz

SBM should be re-rated if they sort out their ventilation issues which is due to be sorted around March (this could change though of course)

 

Anyway some good gold news out there

Cheers

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The SLR share price has gone gangbusters since they bedded down the EGA deal. Left RMS for dust Hopefully if Ramelius get Spectrum with not too much drama RMS will go on a similar run (though I'm a bit worried that Ramelius might be paying top dollar for its add-ons whereas by all accounts Silver Lake got a bargain with Egan Street).
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