SLR Chart, page-576

Thanks for posting Silver Lake's historical Price to Book ratios, 1ozCopper.

I've taken a look at their last financial statement. In just the last 6 months reporting period (June 30, 2019 to Dec 31st, 2019), Silver Lake's net assets increased from $474.2m to $582.6m, a 23% increase.

With their "low price" sub $2000/oz hedges largely behind them in 6 weeks time, plus $560m tax losses to offset future taxable earnings, I can only see net assets continuing to accelerate toward $1b in the not too distant future.

Apply a 5-7 ratio like 2010/11 and that's a decent market cap/share price to look forward to.