Rowsthorn Bid, page-27

This is a fair deal for both the EGA and SLR shareholders. While in an ideal world EGA would have got further before the inevitable TO came and would have had a board that was less keen to sign the BID they did, the shareholders held firm and some sense was shown.

I don’t think Cool Hand has overpaid as this deal really is a case of 1+1=3. Getting is done ASAP and moving Rothsay into production will bring far greater rewards to the SLR shareholders than dragging out the whole process trying to wear the EGA shareholders down. EGA will boost SLR reserves by more than 40% and increase production by 60-70k oz all unhedged. Paying a percentage more of SLR’s stock for all this will bring far greater rewards to the SLR shareholders than taking the hard road.

To the EGA shareholders once again I want to thank you for all your support. We didn’t let ourselves get bullied into accepting whatever pathetic offer was put in front of us. I think we can all be proud of what we managed to do.