Ann: Spectacular gold intersections at Tank South, page-30

I don't think yesterday's trade was related to today's announcement. More likely it is related to the fact that on Friday night it was announced that SLR would be up-weighted in the GDXJ index. Partly I think the up-weighting is due to the DRM purchase being finalised since the last rebalance in March.

This up-weighting will mean considerable demand for shares in the closing auction this Friday afternoon.

This caused a lot of algorithms and traders to buy SLR stock yesterday morning. Management may have (likely would have) known this was going to happen and timed today's news release to capitalise on trading momentum.

SLR is by no means cheap at these levels. Frequently these GDXJ rebalances coincide with medium term tops in the share price.