A major merger rationale is to use SLR's cash to bring forward the Stage 2/3 pre-strip at KOTH and expand the mill. Both will take around 2 years, which would then allow much greater gold production. RED cannot do this without the SLR cash, which was also going to be used to close out the RED hedge book, but that birdie has flown away atm.
Ann: March Qtr Puts Red 5 On Track To Deliver Top End of Guidance, page-43
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