I fell out of love with SLR a long time ago, even though it has...

I fell out of love with SLR a long time ago, even though it has been by far my best pick. Management hyped it and simply did not deliver, and costs blew out at Mt Monger and Murchison operations. I do not believe their Mt Monger costings. They will need to do a lot of exploration and mine development - their Mt Monger ore reserve is pretty small and the other reserves are basically uneconomic at the current POG. Hence they will plough back any surplus cashflow into their dirt for a long time.

However, SLR (like PRU) is a great trading stock if you buy at the right time. I am lousy at picking when the right time is (except when I first bought in early 2009).

The link below provides some info on what analysts think SLR may be worth. The lowest value given is 23.6 cents and the highest is 67 cents - I believe MacBank's valuation is/was 30 cents. I do not know how current this database is.

http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=slr:ASX

SLR is all about hope, the fact that it reached a high of almost $4 (prior to diluation due to 2 capital raisings needed to keep the company afloat), and that its operations being in OZ rather than some other hellhole.

loki