Back before SLR acquired Doray, SLR was my largest holding - I...

Back before SLR acquired Doray, SLR was my largest holding - I sold out under 150c and missed the blow off top - but still way ahead of todays 85c !
I was then a regular supporter on HC, and had a dialogue with LT, who I gave the moniker "Cool Hand" at that time.
I had some written and verbal exchanges with CHL at that time and became convinced he was an able hard head, who had a disdain for retail shareholders ... and he's right ... most have no idea of the realities of keeping a gold miner afloat and "profitable" .
Cool Hand was an early appreciator of DEG, and this who followed his advice would have done very nicely ... if they bought and sold.

The fact that the profit never flows to the bottom line in the form of dividends (aka a Ponzi scheme) frustrates retail shareholders but the truth is the only way to make money out of SLR (or the vast majority of golds) is trade the SP highs and lows. the only ones who ever collect dividends (in the form of bonuses and high basic salary packages and 'golden parachutes' are senior executives, ---- and most skilled workers).
Cool Hand emphasised back then the difficulty of attracting and retaining skilled labour - and this was pre-COVID !!
If Cool Hand stepped down, he would be sought after for his knowledge and experience, and his replacement would be no cheaper.

SLR geology seems problematic and it appears that it's not regarded as long term investment quality, so constant relentless "exploration" and "opportunistic" M&A is essential to maintain the status quo.
The 11% holding in RED ensures a place at the negotiation when Leonora consolidation takes place.
Perhaps a merger with GMD, to offer its 11% + cash reserves + tax losses would be appealing to GMD & its billionaire backers ??
A dividend is ridiculous as it's not sustainable and would merely reduce the MC further in their market ??
If SLR can maintain good cash flow/accumulation for the next couple of years and use it to acquire stakes in M&A targets, this will please the market more and offer and exit strategy ??