SLR - SILVER LAKE RESOURCES LIMITED

[flower]

One can really only do short term trades to try and make a few dollars and sleep at nights. I totally agree goldies in the long term are well worth having in the portfolio.

oldgolfer---I wonder if us precious metal believers havent been put off the right scent by this continued emphasis on short trem trading, OK if you get it dead right and want to be a screen watcher for 6hrs a day.

 

If one picked the Fundamentals correctly early June was the most recent entry point, and using a weekly chart instead of a daily chart, and also allowing very wide travelling stop losse, $20K invested in SLR today would be showing a near 60% profit, $20K into $33K and still ongoing. Just food for thought.

[oldgolfer]

Thanks Flower, appreciate your charts whenever they go up. I cant make the fundamentals work for me in this climate

 

A commentator on ABC national this morning said this financial system is going to play out for 13 years. Heaven forbid.

[chuk]

Heaven forbid yes, but we can position ourselves to protect our portfolios and even do well out of it by finding undervalued gold stocks with good organic growth that will also benefit from the (in my opinion) higher gold price.

[oldgolfer]

Hi chuk, what do think of VKA Its fallen down quite a bit from its highs. Think its undervalued??

[chuk]

sorry, not familiar with it.

[chuk]

SLR new record high. 2.98.

[melua]

$3.16 was a bit over the top so quickly. Missed the opportunity to sell a few but long term $3.16 will be cheap.

[chuk]

I sold a small parcel at 3.14 thinking the same, got back in at 3.04 and 2.99 and bought another new batch at 2.98 in anticipation of an up day today. Definately holding the majority for at least $6-my current base case target, but this has been a beauty of a trading stock since I originally bought.

[melua]

chuk,

SLR did not present in Brisbane last week but I had a lengthy discussion with the geo who oversaw the Daisy Milano mine into production. A very interesting hour. Reckons SLR have only scratched the surface. He no longer works for SLR but holds about 8% of the stock.

[chuk]

Wow 8% -a nice stake.

Yes I hold not just because its very undervalued on current assets and production targets, but also very much for the amazing exploration potential not just at Mt Monger but also at Murchison where it looks highly likely that they have barely scratched the surface there too. A doubling to tripling of current resources appears very possible and there could be more.

All this with out having to worry about third world political risk, and with a backdrop of being in the right sector (and only sector for me)-gold.

it's no wonder this stock continues to outperform.

 

I also posted the following under the KGL thread.

 

 

Anyone want to tell me gold is not fundamentally undervalued and will not go much higher long term?

What a sad sad mess.

 

http://www.cnbc.com/id/45107925

 

"The U.S. Treasury Department said on Monday it will sharply increase its estimated borrowing over the next two quarters due to expected lower receipts and higher outlays.

 

Treasury said it expects to issue $305 billion in net marketable debt for the October-December quarter, an increase of about $21 billion from estimates issued on Aug. 1.

 

Treasury said it expected to issue $541 billion in net marketable debt securities in the January-March 2012 quarter, marking the second-highest quarter on record.

 

The highest was the October-December quarter of 2008, when the Treasury Department sold $569 billion in debt to fund bailouts of the financial sector and automakers during the depths of the financial crisis.