As a long term SLR shareholder you really gotta love these guys. Despite the recent rapid rise of the SLR share price they've managed to pull off a major credit raising at almost the current market price.
I can't count the number of times where management of other junior miners that I've held have resorted to slashing the share price by 30% or more to complete cap raisings. Often there has been the suspected mates deal to "sophisticated investors" at serious discounts and, just to rub salt into the wound, a juicy underwriters fee for the "difficult and risky" task of underwriting what are clearly good shares being given away at ridiculously low prices. And then, if that wasn't enough for the poor long term holders, just to see the same shares dumped back onto the open market putting an effective cap about 10% above the low raising price ...
The management of other junior and mid-tier miners should take note from SLR management of how cap raisings should be done in order to support the current shareholders who ARE the owners of the company.
Well done SLR management, you're not just mining and exploration superstars, you're also smart business operators, a very rare combination ...
k
SLR Price at posting:
$3.54 Sentiment: LT Buy Disclosure: Held
