Ann: Update - Notification of buy-back - SLR, page-28

If the POG sinks to US$1500, then the local market will become a killing field, and M&A will be necessary for survival - with margin contraction, even SLR will be under pressure, and may have to high grade and make brutal decisions about what to amputate, what to hibernate and what to acquire.
M&A offers the chance for brutal rationalisation while retaining adequate size to be of interest to institutional investors.
I wonder how these companies looking to make off like bandits using the discards of NST etc will survive a very bearish gold market ??