Silver Lake Resources (ASX:SLR) Approves Market Share Repurchase – The Market Herald

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  • Silver Lake Resources (SLR) approves a market buyback of up to 10% of its common stock over the next 12 months
  • The company says its balance sheet and free cash flow generation guidance gives it the flexibility to consider value-added capital management initiatives
  • In Silver Lake’s capital allocation framework, the company says it considers capital management and the use of excess capital after allocating funds to support its operations
  • Silver Lake says the market buyback program does not require shareholder approval and will be executed at the company’s discretion, through market purchases that will occur from time to time throughout the term. approved period.
  • SLR shares last traded at $1.51 on February 4

The board of Silver Lake Resources (SLR) has approved a market buyback of up to 10% of its common stock over the next 12 months.

The company said its “strong, organically generated” balance sheet and expected free cash flow generation have given it the flexibility to consider value-added capital management initiatives.

Having allocated and reserved funds to support operations through the gold price cycle and internally fund investment and exploration in its projects, Silver Lake said it is considering capital management and l use of excess capital.

The company said it believes implementing a market buyout is the most effective way to meet the requirements of its capital management framework.

The structure of a buy-to-market allows it to take advantage of stock price volatility through stock purchases during periods when the price does not reflect strong cash flow generation and strong prospects for the company, according to Silver Lake.

Silver Lake said the market buyback program does not require shareholder approval and will be executed at the company’s discretion, through market purchases that will occur from time to time throughout the approved period.

Silver Lake Resources last traded at $1.51 on Feb. 4.