Due Diligence on SLR.... In the end it all comes down to the Management/Board. Are they 100% honest and have they proven to be good decision makers? They publish their own reports and analyst reports and not long after they come up with a Capital raising (August 2013 and Feb 2014). I have been in Corporate Banking >10 years and I would have to say that I doubt their Mgmt skills and intentions. Costs are way to high. Ok this is WA but there are enough people out there that want a job and are prepared to work for 20% less. Mgmt purchasing shares last year at $0.90 (only a small portion any way) came a bit late to show shareholders they were confident - SP had dropped from $4.00 to $0.90 at that time. Now shares at $0.40-0.45, capital raising at $0.60 and Mgmt does not buy shares. But Mr Les Davis has his own 85ft Yacht called "Silverlake". Why would you do that being the MD in a listed company? If Mgmt does not buy shares between now and let's say 4 weeks to me it shows there's more pain to come.
SLR Price at posting:
44.0¢ Sentiment: None Disclosure: Held
