I'm VERY excited. SLR directors were very diligent to raise money via the CR now. The way they have gone about is IMHO exemplary. For what is worth I'm a top 100 holder of SLR. I'll be taking up my two allocations in the SPP (one in SMSF and the other via my investment company).
I is great to see the movement of SLR today from weak/impatient hands into strong/patient hands.
I had been a little concerned about the SLR debt in these troubled times for goldies. The SP dropping only to 94c is a fantastic result. Most shares drop to about the CR level on re-listing.
Reading the SLR preso shows the huge potential that it offers SLR in the medium to long terms.
I am now firmly of the view that the POG will move into the US$1500/1600 range during our spring. With a A$ at $0.9, SLR should be generating A$550 - $600/oz in this scenario. Remember the SP of goldies has gone down much further than the POG and will recover much quicker in a rising POG environment.
SLR will be at the forefront of this move upwards as they have good (not excellent) grades.
Lets get the emotional types out of the stock and get the shares into strong hands. Some have referred to insto shorting stocks. There is no way they could short SLR successfully (to a high degree of certainty)in the present rising POG environment.
US housing and durable sales data disappointments, suggest QE tapering will be off the agenda when the FOMC meets in mid Sept and the spectre of weakening data out of emerging markets (except China), France, Spain, Greece and Portugal in coming months, should underwrite stronger POG.
Do your own research.
Congratulations to the SLR board.
SLR Price at posting:
95.5¢ Sentiment: Buy Disclosure: Held
