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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.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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