Agreed - promising - if follow up drilling can result in a significant improvement in reserves, and hence increase mine life, then one of the reasons that institutions avoid SLR will abate....?
I'm intrigued by the South Karonie results, as it reminds me of the North Karonie Lake Roe deposits which are the main asset of Breaker Resources .... which Bell Potter reckon are worth $1.40/share (now $0.55).
Simple me thought that BRB would make a great addition to SLR, but Cool Hand was cool to the idea.
He preferred to invest in SLR ground than others ..... these latest drill results are some vindication.
BUT, if SLR did take a BRB stake and did effect a takeover offer, both shareholders would benefit from being in a much bigger MC company, with the prospect of a Karonie 'super pit', which could catapult SLR back into the ASX200 (and all that implies).
BUT if the BRB SP went for a run and BRB main shareholder decided to hang tough, then SLR would pocket a handy profit and move on .... a different form of mining but potentially very profitable ?
Lets hope 'still waters run deep' and Len is on a 'mission' and not merely a PR mouthpiece.
SLR Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
