SLR shareholders have got nothing out of this company's mgmnt other than regret for ever buying these shares.
Not only is SLR proposing to "throw away"$150M it has invested in Red5, which by the way, should be distributed to shareholders, they are looking at creating a coy that offers nothing other than more mines with the same AISC, adopting debt, & creating a coy with over 3B shares!!! Doesn't matter what true value may exist, in the event of a falling gold mkt there will be 3B shares looking to be sold.
SLR mgmnt should stop trying to create another "NCM" & pay dividends to its shareholders & distribute Red shares to its shareholders to do with as they pls. All this merger creates is more problems with huge downside risk with little upside. Admin synergies are a joke & not even worth mentioning.
Mgmnt is trying for a hail mary with this merger, thinking that the increased size of the new company will attract investors. BULLSHIT!!! What attracts investors is a profitable coy that pays healthy dividends & looks for organic growth &/or to seek value in small coy's that have solid resources with healthy margins.
I can go on.
SACK THE CURRENT BOARD & MGMNT. THEY ARE THE ONLY PEOPLE THAT WILL BENEFIT FROM THIS MERGER.
SLR Price at posting:
$1.12 Sentiment: Sell Disclosure: Held
