Ann: Quarterly Activities Report, page-16

Hi Auge, SLR were a dud for several years since their glory days of $4 a share in 2011/12. They have now clearly got their act together, have proven steady state production of 125,000oz + and have kept ASIC from soaring, although it's lower than SAR's and their cash/exploration spend is the same ($45m/$15m) with just over half the production. They're stripping a lot from Majestic and then Imperial so ASIC will remain elevated but then the extra ozs start rolling in. I'm confident SLR bought IGR as a top prospect not a dud. We're all about to see how good it is. I'm guessing 160,00oz+ by early 2018 and 200,000oz+ possible by early 2019. This would make SLR a serious mid-tier again with enormous EPS ... then dividends if they're not take over by a major long before. Imo their resources as IGR are going to prove stunning. High ASIC like SLR and SAR's is bad news when gold is falling. It's great news as gold soars because the profit soars too ... and the share price. They're literally massive money-making machines. So no, no joke! The phoenix is rising.