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$1.57 silver lake resources limited

SLR offer for SBM, page-67

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Isladar

1,237 Posts.

159

09/05/23

06:38

Post #: 67668641
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Originally posted by Samscout: ↑

I will take SLR to court if for failing to properly inform the market if they go ahead with this deal.

Its bad enough they are giving away shares at $1.24, but there has been almost a years' worth of exploration results that has not been reported to the market.

These exploration results look material in the sense they have extended the open pit mine life at Mt Monger and extended underground mines at Deflector and Daisy and presumably at Sugar Zone.

What's going on at the underground pits at Mt Belches - Cock eyed Bob and Maxwells? Are SLR going to reopen these or will Maxwells convert to open pit like Santa Fe while CEB stays underground.

SLR shareholders are entitled to know the quantity of ounces discovered or converted into reserves/resources before our equity is heavily diluted.

It's a fair call to say the SLR's reserves are much more than disclosed given these discoveries and the current gold price. Equity holders should know what this is before their equity is diluted.

Furthermore, what is it about Gwalia that makes it worth the offer that SLR is making. What are SLR plans going forward in terms of anticipated ounces mined and at what cost. Why does SLR think they can turn this dog around risking our capital in doing so.

We are going to go from a strong cash position to being in debt. SLR can't continue to tell the market nothing when the capital position will be a much higher risk position. Same for two-year forecasts. They need to be 5 years at the very least.

I have a lot of money invested in this stock, I don't intend to lose it because of an ego trip by management. It's not their stock that is being heavily diluted. They should think long and hard about what the discovery process in a court case will reveal.

Were funds selling in anticipation of a heavy dilution of shares. It sure as hell looks like it.

They stopped the share buyback in February - have they been looking at SBM since then? I thought the share price was being sold down in fear of a bad result in the last quarter, but SLR punched out tidy $20 million and positive forecast v WGX $9 million V RMS which made nothing.

Yet the share price of RMS has outperformed SLR despite have significant capex in front of it and lower locked in hedge pricing. WGX has as well albeit its prospects are much better than RMS.

SLR need to be a lot more transparent if they want to increase both the operational and financial risk of the company.

They have a fiduciary duty to do so, and I intend to make sure that they meet their obligations. Take heed management.

GLTA/IMHO

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Great post Sam.

You can have my 50,000 share holding votes on this one. Time SLR management were taken to task for a below average preformance. Management never reply to to emails as far as I am aware.
The way I see it, at the moment, they are the only ones getting rich! Akin to leeeeches.

SLR Price at posting: $1.18 Sentiment: Hold Disclosure: Held
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