Hi Plough:Yes, of course, my editing skills have alarming...

Hi Plough:
Yes, of course, my editing skills have alarming shortfalls from time to time.
The focus of the "SLR is cheap and undervalued" because its "cash" is not recognised in its share price is ingenious IMHO. The bland assumption that Mt.Monger "has lot's of gold" and they just have to get the drill bit spinning ... thats what they being doing since before SLR acquired Mt. Monger and its then modern processing plant by its takeover of Integra, in 2012, which had the geological potential that SLR didn't, which was then solely reliant on Daisy for it's production for a modest 50k oz p.a. or so .... How deep can this sucker go before the workers will need to speak Chinese ?

The idea that Mt.Monger hasn't been drilled within an inch of its economic potential is ridiculous .... Luke is a very good manager. A lot of Integra's open pits have gone UG and some haven't - tricky business when the open pit resource is relatively small compared to the KOTH (?)
So, SLR has a history of acquiring other companies potential to replenish its now stocks - its in their DNA.
Yes, immediate cash will allow the debt to be extinguished (mostly but not all - there will still be a debt facility set up as RED had previously intended), and maybe some of the hedging will be closed, and maybe the new combined entity will be rerated next November-December as just occurred with RED last November ....
But what of the lead in the saddle bags - Sugarloaf is a bitter pill to swallow and Mt.Monger will require lots of exploration for a relatively small plant ....
BUT what about the ultimate consolidation of Leonora between GMD and KOTH ??
This was discussed at length Money Miners. (note one of their principle advertisers is a drilling company that they recommended be sent to solve the Mt.Monger problem)Will Ralph really pay a premium and become responsible for the decidedly non-core assets of Mt.Monger and Sugarloaf etc etc ??
RED is changing jockeys coming into the straight - SLR needs this merger (reverse takeover) way more than RED IMHO.
So, unless GMD steps up before this deal becomes final, then Silver RED is a fait accompli.
Will SLR thrive without RED - yes, but much less so IMHO - KOTH is a once in a generation opportunity which the king acquirer fully appreciates.