re: Ann: Scheme of Arrangement Terminated, As...
Terrible news for PRH holders but seems good news for SLR, since if there are offtake agreement issues then it is very much a better outcome for us that we have avoided involvement. Must say I'm surprised to see that PRH has even held up as well as it has with the release of this information.
Munglinup Project:
Munglinup (refer to figure 3) is a large greenfield exploration project covering over 1,600 sqkm located in the Albany Fraser belt. This is one of Australia’s most significant gold belts and hosts the 5Moz Tropicana deposit located ~500 kilometres to the North East. The tenement package is on cleared agriculture ground with shallow cover and is essentially unexplored. Initial exploration will consist of geochemical and geophysical methods to establish target areas for follow up drilling.
Could be that we will end up with what may have been the main target of the acquisition for the cost of small inner city apartment. My condolences to PRH holders on this.
SLR Price at posting:
$3.54 Sentiment: LT Buy Disclosure: Held
