"Battened down the hatches and trudging forward"Coats are rising AISC now $1400.They made many claims about being the lowaest cost producer in Australia now one of the highest cost producers.
2 mine plant shut down does not impress big investors.
AISC cost now $1400 they would have known that when they hedged at AUD1435.This is desperation needing $10m to stay afloat.
The maximimum profit at 120k production with gold at AUD 1600 is around $20m.They will have around $30m in development costs for CEB and Maxwells underground.
They have been burning cash at around $16m per qtr.
The resource is being depleted.
New drill results are mediocre.
They are no linger making claims of the grandious 30 km BIF hosted gold zone,Lucky Bay is an 80km strike zone.MT Monger is a new "gold camp. etc etc.
Slr was a $1.5 billion dollar company now a penny stock reminds me of Poseidon.
Where is the value comming from many of you speak of?Would love to hear some discussion on true fundamantals and not just share price predictions.
SLR Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
