lack of confidence, page-84

worzel

My experience from speaking with companies is that they tell you things are OK about 75% of the time, when in fact they are not.

So if they say things are going OK, then it is meaningless unless you discussed specific issues - costs, production, ore grade etc, and have the training to analyse their response.

Several CEO have tried to pull the wool over my eyes and one or two has succeeded, at least for a time.

There is usually a good reason why a company is heavily shorted. perhaps the shorters see the POG heading down a lot,but mainly the company has some operational and cost issues.

When you look at SLR's quarterly report you can see that their all in costs at Mt Monger are quite high relative to the POG, which means the net cashflow per quarter is going to be small on a a per share basis. Plus you need to take account for other costs not directly attributed to Mr Monger in the last report.

SLR is steadily losing its hero status to the mum and dead investor (perhaps it has lost it already) and the institutional investors for the most part will not buy in until things are looking much better. Sir Les is now far less believable than he was back in 2010-2012. The results speak for themselves.

loki