"1 for 6" - you have to be joking .... when and at what SLR...

"1 for 6" - you have to be joking .... when and at what SLR price ? What price would RED SH get ??
SBM rejected SLR partly because there were no synergies - ditto for M&A with RED.

The idea that SLR management would bring something to the table that RED's current management is not achieving is baseless. While RED's BOD have made some mistakes, they have built and commissioned the latest big modern mill in the Leonora district during a time of unpredictable and unprecedented difficulties. SLR have underperformed after Doray M&A, and are struggling with much lower LOM than RED.
So why would RED be interested in M&A under 40c per share ? A hostile or inadequate initial bid would immediately cause a RED rerate, and the BOD would roundly reject a low ball bid that also gives SLR control ..... NOT GOING TO HAPPEN !

Any M&A with RED must have synergies to add a premium, which means it must involve companies in the Leonora district.
It's hard to see where SLR goes now that SBM has given them the bums rush .... not attractive ... no growth and never dividends ... so why hold ??
Where's the synergies with RMS ? Good management but not really better than the current BOD IMHO .... once again any company making a move on RED is merely confirming RED's fundamentals - excellent long life geology and new big volume plant that can expand by a further 50-100% if ore becomes available.