buy time, page-173

Inverter my advice is give up the "wish and prayer"about the price of gold.Investing in this industry is far too risky.Gold is down in AUD now AUD1370.They say costs are AUD1180 but they burnt $17 million cash this quarter so there is no profit.The only one off cost was reduncies from Murchison of $6m and perhaps shifting the power plant from Murchison.
I was until Tuesday in IGR SLR since 2007.I could write a book about the resource and all the claims CEOs have made over those years.

There is no doubt gold will probably go up one day.My best advice is dont listen to the spin doctors who have all been making outlandish and totally wrong predictions for the last 3 years.
The USD is predicted to go much higher and stay there for some time thats the bottom line.Goldman and JPS predict gold at $1050 2014 and 2015.

Clearly SLR at $1370 POG is not profitable at USD 1050 it shuts down.Not profitable now if it burning $17m per quarter and has major development costs comming up conservatively$40m.

If the POG goes to USD2000 they are in the money thats the gamble and it is a very long odds gamble.

2015 is peak gold production year for world production.At these prices that will be cut short.Few can survive at these prices including SLR.Thats the vreal situation they run out of money very soon if not almost out now.A capital raising at what price maybe 4cents not a good picture.

I wish you luck if you take the gamble.