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SLR, SILVER LAKE RESOURCES LIMITED
triage
post Posted: Jul 31 2013, 06:39 PM
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In Reply To: triage's post @ May 2 2013, 01:19 PM

Back on 2nd May I posted the following based on what was in the SLR March quarterly:

QUOTE
The report is crystal clear that the relevant figure for the latest reporting period, the March quarter, was $1,144 an ounce and the report was also crystal clear that management is embarking on a program that should reduce that figure by around $100 an ounce for the Mt Monger operations. The quarterly report also clearly states that management are of the view that the Mt Monger operations
would continue to produce significant free cash flows in the June quarter even were the gold price to drop to an average of $1300 per ounce for the quarter.


Well how did they end up faring in the June quarter?

The Murchison facility was declared to be in commercial production during the quarter but the company will only start reporting costs for that operation for the September quarter.

The all-in sustaining costs for the Mt Monger operations came in at A$1090 per ounce (and the corresponding figure for the March quarter was revised down from $1144 per ounce to $1135 per ounce) so they are about half way to where they want to get to on that front. But at the current price of gold Mt Monger appears to be viable.

As at 31 March 2013 they had cash and bullion to the value of $11.2m and a net debt of $13.8m whilst as at 30 June 2013 their cash and bullion position was $19.2m but their net debt was $32.8m (quite likely due to the $20m blowout in costs at Murchison (?)).

The bottom line is that they seem to be paying their way despite the lower gold price. Any other views out there? Melua?



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
arty
post Posted: Jul 24 2013, 12:46 PM
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The recent recovery of the pog has also brought SLR back into focus - and onto my shopping list.
Resistance at a Fib level AND the one-year EMA got me off for now, in spite of "regulation" target being 98c.
It's those lower gaps that are of concern to me and I'd rather buy back in at 73c, or better still at 66c.

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Gold bugs may disagree, but that's OK with me.



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)

Said 'Thanks' for this post: Nick1970  
 
triage
post Posted: Jul 1 2013, 11:02 AM
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In Reply To: triage's post @ Jun 2 2013, 08:33 AM

From the update released today it seems that in terms of gold produced they did better at the Mount Monger operations in the June quarter than what they suggested in the March quarterly they would do for the quarter: production for the quarter from the two Mt Monger facilities came in at a tick over 43k oz against the projected production of 30k oz. The annualised figure from the March quarterly was between 120k to 125k oz whereas for fy13 they actually produced about 135k oz from Mt Monger.

The Murchison plant appears to have missed by a bit the June quarter target of around 15k oz; today's update gives the figure at about 13k oz. This coming September quarter should be the one which sees the Murchison operation pull away from the gravitational pull of development and commissioning.

No info on costs were given but the company advises that there will be a major statement regarding resources, reserves and the fy14 budget at the end of July whilst I assume they will provide costs for both operations in the June quarterly also due out towards the end of this month. Assuming that they had even a modicum of success during the June quarter in cost cutting I would expect that their bank accounts did not go backwards in spite of gold having its worst quarter in USD price terms since the current era of gold trading started in 1974.

(But of course there is no getting around the grim reality - for me at least - that its share price is a train wreck).



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
melua
post Posted: Jun 28 2013, 06:13 AM
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In Reply To: melua's post @ Jun 26 2013, 08:11 PM

Gold now $1197. Going to be an ugly day.

 
melua
post Posted: Jun 26 2013, 08:11 PM
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In Reply To: NPH's post @ Jun 24 2013, 03:08 PM

Gold getting smashed tonight. I feel SLR will be headed for the 30's over the next few weeks.

 
NPH
post Posted: Jun 24 2013, 03:08 PM
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In Reply To: NPH's post @ Jun 21 2013, 09:23 AM

Currently sitting on the that middle channel line...will it hold or will we see sub 50c this week? I'm inclined to wait and see for now, a close below 62c tonight and 50c before friday not out of the question!

Gold not finding much support at all and a visit to 1215 this week would not surprise me.

 


NPH
post Posted: Jun 21 2013, 09:23 AM
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In Reply To: melua's post @ Jun 21 2013, 06:14 AM



Definitely looks like that channel from 2010/11 has come back into play.

60's a real possibility soon

havn't posted a pic here before, does it come up ok?

 
melua
post Posted: Jun 21 2013, 06:14 AM
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In Reply To: arty's post @ Jun 20 2013, 10:42 AM

Gold price smashed last night along with the AUD so the net effect economically is not great, however, sentiment will certainly drive this stock much lower.

 
arty
post Posted: Jun 20 2013, 10:42 AM
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In Reply To: six20aus's post @ Jun 20 2013, 09:47 AM

QUOTE
where do we see SLR going with gold spiralling last few days?

definitely down; the weekly suggests $1300 could be broken sooner rather than later if $1338.3 doesn't hold; last night it got to within 60c of that mark; a new Lower Low would definitely be Bearish.

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As to SLR, I saw it drop out of my comfort zone and sold yesterday. Would have been much worse today.

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--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
six20aus
post Posted: Jun 20 2013, 09:47 AM
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In Reply To: arty's post @ Jun 17 2013, 12:18 PM

Sideways week, where do we see SLR going with gold spiralling last few days?

 
 


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