Problem SLR have is that they can only raise 15% of equity in a placement without SH approval. They would probably only get about 15c a share which represents about $11.3 m. They would probably not get the SH approval with their dubious record so they are stuck with about $10m whatever they do. Hopefully they can do enough with the $10m to open up CEB, Rumbles and lucky bay declines and the extensions North & South at Daisy/Haoma; it looks very tight although some of it will already be within the AISC as sustaining Capex. As others have said the issue with SLR it is not transparent in what Capex is included in the AISC and what is outside it and comes out any +ve cash flow outside of the AISC.
SLR Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
