CL,I'm a contrarian investor and maybe Van Eck are too.The Mt...

CL,
I'm a contrarian investor and maybe Van Eck are too.

The Mt Monger area (Daisy Milano, Imperial, Majestic, Magic, Maxwells, Santa etc) look to me like sound mines with plenty of upside in the area for potentially many more BIF deposits (a gold camp?). They will need some investment to open up Maxwell's u/g, Majestic O/P and Imperial (which will be driven u/g from Majestic)and I hope they have done their sums. In Mt Monger area we are talking about a resident workforce (not FIFO) with presumably competitive labour costs. They also have 2 mills which gives redundancy (with plenty of spares in Murchison). At the AGM Les Davies said that A$1350/oz would fund their development for 2 years (now 18 months) and then A$1500/ozs needed. This presumably assumed Murchison. Without the albatross of Murchison they need gto demonstrate that they have the free cash flow to finance Mt Monger (incl. buying out Newcrest's 15% of Majestic/Imperial)

Still concerned about free cash Flow to pay for this. The other upside is that they have no debt (assuming they have paid off WA government). Hopefully shareholders (incl Van Eck)can put pressure on SLR management to sort out their management and make sound decisions. I feel Les Davies is basically sound and Peter Armstrong comes over well. I'm less impressed with the others. I understand that Paul Chapman is very supportive of the Company and has put his money where his mouth is. I just hope PC has the drive and decisiveness to drive reform through and make manager (incl directors) take responsibility by falling of their swords where due.