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General Information

Silver Lake Resources Limited
SLR
http://www.silverlakeresources.com.au
Gold
91
503

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$0.18 $0.18 $0.19 $0.18 $0.18 798816 - ( No change )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
25/05/2015
1

Company Overview

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.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 2.2 16.1% 8.0 0.0 0.0% 0.0%
2015 F 0.0 1.9 0.0% 9.3 0.0 0.0% 0.0%
2014 A -115.6 -25.8 0.0% 0.0 0.0 0.0% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Evolution Mining (EVN) $842M -0.2670 0.5528 0.5307 14.7613 9.5065 6.2104 1.70% 1.66% 2.03%
Newcrest Mining (NCM) $11,122M -0.0429 0.1317 0.5579 25.7452 22.7501 14.6035 0.00% 0.00% 0.00%
Northern Star Resources (NST) $1,315M 0.2151 2.1496 0.5728 27.6808 8.7886 5.5877 1.58% 2.70% 4.57%
OceanaGold (OGC) $908M 0.0000 -0.2153 -0.3052 6.8125 8.6818 12.4948 0.00% 0.85% 0.85%
Silver Lake Resources (SLR) $91M 0.0000 0.0000 0.1606 0.0000 9.3264 8.0357 0.00% 0.00% 0.00%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.63 0.00 0.33 0.00
Market 1.03 17.10 1.34 1.57
Sector 0.78 13.50 0.70 0.46

Directors

Name Position Start Date
Mr Luke Tonkin Managing Director 14/10/2013
Les Davis Non Executive Director 25/05/2007
Mr Paul Chapman Non-Executive Chairman 20/04/2004
Mr Brian Anthony Kennedy Non-Executive Director 20/04/2004
David Griffiths Non-Executive Director 25/05/2007

Management

Name Position
Robert Humphryson Chief Operating Officer
Peter Armstrong Company Secretary
David Berg Joint Company Secretary

Substantial Shareholders

Holding Name
75,263,605 (14.96%) Van Eck Associates Corporation

Calendar of Events

Date Event
20 April 2016 Report (Quarterly)
26 February 2016 Report (Interim)
26 January 2016 Report (Quarterly)
27 October 2015 Report (Quarterly)
16 October 2015 Report (Annual)
28 August 2015 Report (Prelim)
24 July 2015 Report (Quarterly)
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