Ann: March Quarter Sales Results, page-82

Reply to mergernotaTO:

If Silver Lake stops mining today it has net value approaching $800m: cash, bullion, investments, stockpiles and concentrates at hand. This is rapidly increasing each week.

Silver Lake's short mine lives are a mirage due to the nature of its deposits, e.g. Mount Monger has always had a short life since mining started at Daisy in 2008 and, as the Money of Mine crew noted a few weeks ago, MM is "dripping with gold". Mine life visibility is nonetheless improving following the Santa reserve, which is being developed.

Sugar Zone (Canada) will have a decade of mining ahead of it and will be very profitable at current gold prices. As @Joelstar noted recently, there are regional deposits that could potentially feed the Deflector mill such as WA8 even though SLR is having exploration success at Deflector itself, e.g. Spanish Galleon.

So it comes down to relative valuation. The day before the merger announcement SLR closed at $1.26 and RED $0.33. Due to the rapidly rising gold price since and SLR being highly leveraged to it (small hedging), SLR would have run hard like many other gold stocks but is tied to RED. High value scrip and enormous cash hoard ought to be a powerful combination for M&A.

All IMHO, DYOR. Haha @triage what were you saying a few weeks back about the vote and your former experience!