RED 5 was mentioned in the presentation as possibly needing ore in the future ... I thought hmm RED 5 has a 15 year mine life now and is still drilling ... they are filling the mill. KIN surely isn't thinking 10 years ahead .
But today RED 5 and SLR announce they will merge. RED 5 had net debt, SLR has cash ... the merged entity will have about 300 million to spend on acquisitions, so RED 5 and SLR will out gun GMD in regional consolidation if they go that way. As the presentation mentioned lots of small cap companies holding resources and prospects around Leonora struggling to find exploration $.
Much better for KIN to have two potential customers for ore it finds. Not so good to be trying to outbid RED for nearby tenements, maybe.
I have RED shares not crazy about merging with SLR .. I would have just waited for RED to clear its debt and pay off its hedges. But the merger makes the Leonora consolidation picture much more interesting now.
Just some thoughts.
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