SLR are mining marginal old open pits and I would expect their stated mine life is a lot less and costs to further blow out over time. Daisy Milano underground is their ace in the hole and I would expect all their open pits to close soon or later without a gold price recovery. Also I think there is a good underground resource at Cue but SLR don't want to spend the money developing it at current gold price. More likely SLR will try to take out MYG to get a decent minable resource to add to the numbers. SLR are underground and open pit miners that skill sets would transfer to Deflector as they already mine high grade narrow vein resource.
Deflector is a mine in the making. Some of the last drill results came back at above one once per tonne. The value will be realised for shareholders if the exploration is successful pushing the ounces above 1 million with the current average high grade. SLR need to add new projects to the books or they will stall and run out of cash.
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MYG Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
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