Zooming into the comparison it clearly shows how dudded SLR s/holders are by this deal with a discount to market. Unbelievable that such a deal can be supported by a Board.
PM Gold is doing best since announcement which is contrary to how gold mining company's share prices should normally behave. So the argument for re-rate is also not coming to fruition by the market, ie. the market does not like this deal.
Then there's the RED hedge which continues to deteriorate - Spot gold is now over 3350 AUD/oz
This scheme is dead in the water and I would like to see the SLR Board sacked for deliquent negligence.
Note our share price is still lower than pre-scheme announcement despite the gold prices ripping higher.
I've changed my sentiment from none to BUY as I think there is actually a good business in SLR that is undervalued in an undervalued sector in a safe jurisdiction with plenty of cash and no debt. Just need to sort out the rotting fish head.
