SLR 0.00% $1.57 silver lake resources limited

oversold, page-33

  1. 1,268 Posts.
    Quite right Paddyboy, and I should know better with my technical background. Essentially what I have done is use the inverse of the equation to fool myself. Sometimes, quite often, my brain doesn't cooperate with my mind. Anyway, I bought that parcel for a short/med term play as I am already happy with the number of new SLR I have.

    The vote was 99% in favor, no surprise there. ASX observers were there, as well as Les Davis and SLR board. All fairly boring and straightforward. New Reserve update for Majestic and Imperial are being finalized now. CC indicated that all Resource already mined will show to be fully replaced with updates. A question arose concerning why IGR/SLR had not released any info about CEB UG ore that was mined and why nothing released regarding findings. Basic answer was that almost entire mining was for development shaft and only 2500 tons of actual stoping ore was recovered before halting. That amount was not enough to conduct a meaningful test. Due to capital outlay on SLR Murchison CEB was stopped until Murchison is completed. My impression is that work will then almost immediately begin again on CEB. I think this is called good capital management. By then SLR will have thoroughly reviewed the UG mine and completed a plan. With the SLR board in the room, I presume all of CC's talks were in concordance.

    I asked Peter Ironside about Van Eck and he too is puzzled. They have tried to talk to Van Eck to no avail as there would've been plenty of buyers interested in a cross trade and they are foregoing a fair amount of profit. Who knows?

    I met and had a brief chat with Les, my first time to meet him. Very favorable opinion, seems very open to shareholders, and has the presence of someone who knows where he wants to go. And how to get there. He again mentioned the dividend issue and that they hope to get there soon. He said big investors are starting to demand that from gold miners as a price for continued support.

    So, where to from here? I've sold a few other things lately and looking where to put that money. Believing that further consolidation is inevitable, which was a big theme at today's meeting, I've started looking to see who could be on the radar and have two in mind. SAU and NMI, Southern and Northern. SAU are adjacent to SLR/IGR, as well as SLR now having a 15% stake. SAU have a pretty decent deposit in the northern end of their tenement. NMI have an interesting deposit in the southern end of their ground which happens to have the SAU/NMI tenement boundary running through it. It's all the same deposit. So someone has to do a deal for that deposit to be mined. And both companies could be taken out cheaply and a hell of lot of ground consolidated. Just musings.

    Tooli, CC said he has parcel freighted a couple of slabs to you, should be receiving them soon.
 
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