Silverlake Resources – Buy the Dip

Posted on | by Leon Hinde

ASX:SLR} has rallied 70% since we identified the Algo Engine buy signal back in September last year.

SLR 2H19 net profit rose to $44mn from $4mn the year prior. EPS of $5.35 was up from $0.78¢ and revenue rose to $258mn. 
Gold production almost doubled to 132,000 ounces during the 2H20 and FY20 sales guidance increased to 240,000 – 250,000 ounces.
Buy on a dip back the $1.50

BlueScope – Add to Watch List

Posted on | by Leon Hinde

BlueScope Steel is under Algo Engine buy conditions and we see the current selloff as a buying opportunity.

BSL reported net profit fell 70% to $186 million 2H19 from $624 million on the same time last year. Revenue dropped 8% to $5.8bn from $6.4bn.

EBIT fell 64% $302 million from the year-earlier $850 million.

The company indicated EBIT in the 1H20, had renewed caution because of the uncertain impact from coronavirus on its businesses and customers.

Value is likely to emerge near the $12.50 price level. We add this to our watchlist