If all goes well the company would be on a PE around 5 after tax. 150-170K production is a forecast, it depends on the success of various work programmes on the Mt Monger site. 24M will be spent over two years to fund those work programmes. The risk is that those work programmes i.e. additional drilling may not yield expected results, the upside remains that these work programmes find better than expected grades on the site. Given the potential of Mt Monger, I am more than happy to wait and see.
SLR Price at posting:
47.0¢ Sentiment: None Disclosure: Held
