Hope you're well. Good post. I still have a residual 10k of SLR that I bought quite a while back, so I'm in both camps. Wish I hadn't sold most of my SLR when I did, but it's idiocy to complain when you've made a profit. No need for what would've, could've. should've.
It is "smart corporate" not to release too much news right now, though the SP is getting to a point where it would be a very expensive counter offer. And if it someone made a hostile offer, and failed, it would have repercussions for that companies management team, plus a hell of a lot of money. At some point, some results will have to be released, Aldiss area B for one. Unless it's a bit of a dud. Having worked in the exploration side, I know that the rules for market sensitive disclosure are pretty subjective in a lot of cases. There's many legal ways of sitting on results and I've seen it in person. You can hold onto them, "until you have time to fully analyse the implications", as one MD put it to me once. Lot of latitude there.
Also, I suspect most exploration drilling has moved the rigs to Majestic and Imperial for mine development drilling, not raw greenfields exploration, with possibly the relatively cheap aircore drills across Queen LaPage and some other areas. Still need to generate new targets. I do not think that results from development drilling fall into a mandatory reporting requirement unless they strike some kind of new bonanza grade results.
Paddyboy posted comments from Les, much thanks, about consolidation in the Eastern Goldfields. Now, SAU, of which SLR will own 12.5% post merger, has the shallow open pittable Cannon deposit of 95,000 oz. They are virtually neighbors of IGR and SLR. Northern mining is immediately adjacent to the north of SAU with their shallow Georges Reward deposit, presently at 22,850 oz and drilling. My understanding is that these are the same deposit with a tenement boundary running through. So neither can mine without some agreement. And both are very close to Lakewood. Or will both come under someone's, (SLR??) scrutiny? Definately an interesting couple of years coming to the area.
SLR Price at posting:
$3.49 Sentiment: Buy Disclosure: Held
