Odds are the buy-back starts next Monday, on the 16th.
SLR is unable to start the buy-back until this date. As they did not commence the buy-back within 2 months of the initial buy-back announcement.
The buy-back is for up to 10% of the total float. I would expect anything under $1.65 as being in the prime target zone.
So SLR in the $1.50s in my opinion represents excellent risk reward. Anyway I have loaded up and anticipate (?hope), $1.50 is the floor, though if gold sells down $1.45 may be in play.
SLR Price at posting:
$1.54 Sentiment: Buy Disclosure: Held
