major downgrades, page-21

Hey the Macquarie analysis was not overly negative and lets face it there are some unknowns regarding operating cost at Murchison. They concluded by saying they are Neutral on SLR and I suspect that is in the absence of demonstrated cost control and profit generation at all mine sites.

They also said that there are lower cost gold mines that they prefer to SLR and also a few days ago to Kingsgate.

IMHO all is not lost by any stretch of the imagination it is just likely to take a another quarter before SLR can come out and hopefully shoot the lights out by announcing great results.

Until then I remain confident that SLR will perform well