Ann: Mineral Resource and Ore Reserve Statement, page-21

While I agree with most of what you have posted, Sugar Zone post acquisition has been a disaster and really amateurish from a bloke with his experience. It will be recoverable but at great expense. Fortunate for him the $APoG has held up and the other operations covered the turnaround failure. If it was a standalone operation it would have been back in Administration and CHL out on his arse. So CHL should be more thankful we saved his arse. The SBM debacle was just that. If RED is a strategic investment it sure has been hidden well as the buy would have been half price just months before and could have been pursued as a TO of a distressed asset. Don't get me wrong I think RED 5 is a good opportunity just don't get the value proposition it currently presents to us SLR shareholders as a blocking stake. Looks like strategy on the run.Go big or go home.

Finally, CHL needs to step up as an MD and communicate with and face the market more. In the current $APoG environment to have a share price languishing an a record over the year as below then I would rate him as a failure and a big one. Lift your game CHL. You like to sell free shares at the top, how about buying with your own dollars when it tanks. Knowing the guy pretty well.....I am dreaming right? Surprise on the upside for once this quarter.