https://www.silverlakeresources.com.au/cproot/279/2/23.05.08-Silver-Lake-clarifying-Media-Release.pdf
Unfortunately it looks like management is going to throw its shareholders under the bus and engage in a unfriendly takeover.
The fact that SBM don’t even want to engage with SLR says a lot about SLRs poor communication skills.
Something I’ve been banging on about for years.
it’s a bit rich for management to claim they’ve delivered superior returns. At Sept 30 2021 the company had $359 million in cash. Since they they’ve burnt through $91 million in cash, despite producing 400,000 ounces of gold and issuing circa 40 million in shares.
They need to calm the farm and bed down Sugar Zone and get Mt Monger back up to speed.
That includes getting Cock eyed Bob up and running as well. This crap they are great underground managers isn’t bourne out by the fact Cock eye Bob and Maxwells were shut down with next to no notice. So much for flexibility.
GLTA/IMHO
SLR offer for SBM, page-66
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