Silver Lake Resources Limited (SLR.AX) Stock Analysis & Winston Score
Silver Lake Resources is an Australian gold mining company. It digs gold out of the ground at several mines in Western Australia and sells that gold to refiners and bullion banks. The company owns and operates the Sugar Zone mine in Canada as well, giving it assets across two continents. Silver Lake makes money by selling gold at market prices, so its profits rise and fall with the gold price. The company is mid-sized by Australian standards, with a market cap around $1.5 billion, and it competes in a crowded sector where scale and low production costs matter most. Its relatively thin gross margin of around 10% suggests its mines are not among the lowest-cost operations in the industry, which is a key risk — if gold prices fall or costs rise, profitability can shrink quickly. The main growth driver is expanding production at existing assets and finding new ore reserves to extend mine life.
Winston Score: 58/100 — Good
A decent business — some strong pillars, some weaker.
- Quality: Mixed (11/30)
- Growth: Good (13/20)
- Cash Flow: Exceptional (10/10)
- Stability: Exceptional (10/10)
- Valuation: Good (5/10)
- Ownership: Mixed (6/15)


