Ann: Quarterly Activities Report, page-19

Tank South is just one of number of prospects that SLR has going for it. SLR has over 10 existing or potential underground mines that can be mined in the coming years. These are:

Current Mines
Daisy (Haoma,Haoma West, Prospect)
Cock-Eyed Bob
Maxwells

Deflector

Santa

Easter Hollows (Proximal to Daisy and due to come on line in the next quarter)

Potential or upcoming Mines

Karonie (Including Karonie)

Tank (including Tank South)

Deflector South

Rothsays – worth nothing the May 2017 PFS had a grade of 7g/t not the 4.5g/t which was based on using a sorter

Exploration Prospects

Daisy North (described as a game changer 2 years ago but still hasn’t got a jersey due to successful exploration at other sites)

Other Daisy Complex Targets

Flora Dora and other Mount Belches targets

Other Aldiss Targets

Other Deflector targets including King Solomon

Other Rothsay targets

Andy Well and Gnaweeda (no idea what’s going on here – lots like it has potential but management don’t seem interested - @plough – do you have any ideas?)

SLR is perfectly set up with heaps of cash, existing infrastructure and excellent management. I can’t believe how much cash they have generated in the last 6 months – this should only improve once this quarter is out of the way as most of the below $2000 ounce hedging will have been sold into.

It's quite possible that after Karione it can fill its Randalls mill with 100% high grade underground ore which would lift output by another 10,000 ounces or so.

It is well positioned to build on its measured and Indicated resources of 3.3 million tonnes (before deflector south addition this year) grading 4.3g/t with a cut off of $1700. With a gold price of $2700 and existing infrastructure and approvals in place it will convert plenty of this into reserves.

Furthermore, if it keeps going up and other stocks slip the ASX 100 beckons – it’s currently around 135 but if it can get into the top 100 it will be re-rated. If gold maintains its value then its previous top of around $4 is possible.

GLTA/IMHO