Let's do it. The big picture looks solid. Is SLR giving away too much? The market thinks so. The market also has SLR marked down due to perceived minelife. So needs to make its mind up. SLR is a cash cow; RED has a long-life asset but no money. This deal will fix perceived ML issues at SLR and RED's balance sheet. The market will soon forget it being undervalued in this deal. Miners have been on the nose since Covid. Sentiment will turn at some point. Mergeco will be a significant player in Leonora's consolidation. Perhaps SLR is sandbagging results(RED say they have seen them and are happy, yes?); if not, the market will continue to mark them down, especially as communication isn't their great strength. I say do it.
SLR Price at posting:
$1.02 Sentiment: Buy Disclosure: Held