Hey Joel,sorry... but I struggle to see many positives in this...

Hey Joel,
sorry... but I struggle to see many positives in this announcement.
I agree that the decision to put Sugar Zone onto C&M (though I note SLR are loath to state exactly that), is the right one, but.... why was that not done 18 months ago when they first acquired it? SLR have ploughed a huge amount of capital into their acquisition (I wonder if anyone has the time to add it all up, including the purchase price/debt etc). SLR basically returned to a plant operation, with high costs, especially when you include the capex and exploration. The capex/exploration adds approx $581 an ounce, so... their AIC is likely to sit around $2888-3081 AUD.



I really do wonder if Sugar zone will ever end up even paying itself off.
I was impressed with the cash build, but... it's all for naught if it gets ploughed back into a business that is going to tread water.

I struggle to see why investors would have a lot of confidence in SLRs corporate activities going forward.
Very negative view, but... what is there to like about Sugar Zone?