I concede that it is reasonable to consider the "merger" to be a take-over of RED by SLR and for the discounted price assigned for SLR shares to be regarded as a premium to RED shareholders. That is quite a small premium for a take-over.
With the release of SLR's Interim Results this morning, it would have been nice to find a dividend declared in view of the very healthy increase in cash flow and profit. However, all that can be looked for is the possible equivalent of a share buyback if the existing RED shares owned by SLR are cancelled following the merger.
I still like the idea of a 445Koz pa producer with over 4Moz of reserves in my portfolio, if the merger really does go ahead. In the meantime, the market is killing the price and I am looking to top-up because with or without a merger it is looking good value.
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LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
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