Ann: Quarterly Activities and Cash Flows Report DEC 2016, page-28

I agree that the former MD of SLR Les Davis made a terrible mistake with Murchison (probably thinking POG would skyrocket) and there were other issues. The overall carnage of the entire sector was the main cause though. NST at 67 cents, NCM at $7, GOR at 5 cents, SBM at pennies. SLR was less compelling, at the time, than these bargains , when they experienced their turnarounds. Investment flows went into certain companies first and other bargains later. Investors like Rick Rule said, years before this actually happened, this was the nature of this incredibly volatile sector. I think this whole investment flow process is continuing and that SAU and other micro caps could be the next "cabs off the rank" or "corn kernels to pop".
I like to use a really rough metric when considering value. I like to consider ratios of companies' market cap, as if they were private equity entities. I also rate there potential ounces in the ground as a very important consideration. If I waited till the ounces were proven - I would have " missed the boat" so I speculate a conservative ounces in ground figure.
The MC ratio of GOR to SAU is currently 39. SLR/SAU is 29. Now if SAU can prove up 1 million ounces of gold and 15 million ounces of Silver (my very conservative guesses), GOR needs to prove up about 45-50 million ounces to keep current valuation parity. If anyone thinks I'm dreaming to think SAU can prove resources of 1 million ounces Au, what about GOR finding 50 million ounces or SLR 35 million? I'm not bashing these companies and their valuations, I actually think their OK ( point of view of a gold bull). I'm simply using this to show SAU's comparative upside and its current crazy low valuation.