It is a rather funny and ironic article. PP is also laughing at himself for getting this one wrong, as well as other punts. He gave Keith Goode a bit of serve for his past seductive write ups on SLR (for which he gets paid), but I do not blame him too much as costs and the POG are against the goldies.
The interesting part was that PP mentioned that a lot of exploration expenditure would be required, which is something that I have also been noting for some time. That in conjunction with costs of new ore body developments will eat up their supposed profits that some people think exist with an AISC of $1017 (I have expressed my doubts about that estimate).
Selling the Lakewood mill will get them some cash but it is the end of the possibility of higher production level at Mt Monger without expanding the one remaining mill. If that breaks down their cashflow is nonexistent.
I note that MacBank now has a TP of 30 cents for SLR following the release of the quarterly report. I wonder what Canaccord's current TP is and other companies?
But SLR is a great trading share for the good traders.
GLTAPunters
loki
SLR Price at posting:
51.0¢ Sentiment: None Disclosure: Not Held
