Why SLR though? There are plenty of suitors with balance sheet capacity who haven't made a move on red because despite the bear market in goldies the price they'll be paying for those ounces is still high. Compare red's $500m mc (soi of 2.35b), 4Moz. To something like black cat at circa $65m MC, 1.1Moz, 3 mills with potential to hit the 200koz club in the next several years. It's just not commercially attractive imo.
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Why SLR though? There are plenty of suitors with balance sheet...
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