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Business Description: Silver Lake Resources Limited (SLR) is a gold producing and exploration company with resources in the prospective regions in Western Australia. The flagship projects are Mount Monger, Murchison and Great Southern Projects.
Strategy Analysis: SLR's strategy is to develop large production centres at Mount Monger and the Murchison with multiple mines at each centre. SLR's Mount Monger Operation contains the Daisy Milano and Daisy East underground mines located 50km southeast of Kalgoorlie. Mount Monger has additional multi mine potential underpinned by emerging open pit production from Costello, Magic, Wombola Dam and Wombola Pit. Furthermore, the discoveries of Emma and extensions to Rosemary and Haoma show potential as near term production sources.
Silver Lake Resources reported NPAT down 70% to $5.13m for the half-year ended 31 December 2012. Despite higher volumes mined and milled at lower grades compared to the previous corresponding period, the average gross profit margins and unit cost of sales have been maintained. However, the profit was reduced due to the inclusion of $15.35m of business combination expenses relating to the Integra acquisition. Non-cash transactions affecting profit during the period included depreciation and amortisation of $9.58m (2011: $7.14m) and impairment adjustments of $2.0m (2011: $80,000). Revenues from ordinary activities were $85.61m, up 26.6% from the same period last year. Diluted EPS was 2.19 cents compared to 8.46 cents last year. Net operating cash flow was $35.78m compared to $33.35m last year. No dividend was declared.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
IMPORTANT: This information has been prepared without taking into account your objectives, financial situation or needs and you should consider if the information is appropriate for you before making an investment decision. Neither InvestSMART Financial Services Pty Ltd nor any of its Related Companies make any recommendations as to the merits of any investment opportunity referred to in its emails or its related websites. Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. You should consider the product disclosure statement before making a decision about the product. All indications of performance returns are historical and can not be relied upon as an indicator for future performance.