Yeah I am with you SK - anyone who thinks this is going to zero either has an axe to grind or they simply sont understand they valuation. The enterprise value is nearly at market capitalization (this doesn't even take into account the residual vale of the technologies). Now this is not a small mining exploration company burning through cash - they have already massively cut costs so that by the end of this year we may even be nearly cash positive (eg interest is higher than expenses). I hope they understand that if this did get down to cash levels as a matter of course a takeover would occur by effectively using th cash reserves to pay for it and making money of selling off the residual (see Wall Street or Pretty Woman for an example of this strategy).
Fortunes may or may not be made on this stock (I hope so) but let's keep it real - this ain't going to zero unless MG changes his position and decides to massively increase costs.
I am the Iceman!
SLX Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
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