Agree, almost all gold stocks are under-valued ATM and amongst them SLR is a super-bargain by its financial metrics. Nonetheless, the lack of visibility of its M&A plans does worry me a lot. The market could judge it very harshly if a M&A deal comes with any sort of compromises even when it is overall a good deal.
I rejigged my gold portfolio last week and moved my money from SLR to RRL that has completed its major acquisitions. It gives me peace of mind knowing that everything is on the table and all the pros and cons have been factored in the share price. I will revisit SLR when there is more visibility to its plans.
