My first post on SLR thread. Been in IGR since 9.7c days. Have...

My first post on SLR thread. Been in IGR since 9.7c days. Have had a large holding which I reduced a little over last twelve months.

I think the deal is an excellent deal for both parties when one considers:

a. Top class SLR management
b. Present SLR assets which are growing
c. Cost synergies - Must be in excess of $10m pa as a guess
d. Need to grow company size. Higher thruputs = lower per oz costs
e. Massively likely potential for IGR Maxwell; Santa and CEB U/G
f. Immediately adjacent IGR ground near DM mill
g. Huge IGR stockpile of 1.57g/t on ROM pad.
What I don't follow or like is the manner in which IGR became available as a t/o target.

IGR had production probles which smashed their last quarter. However, the SP should not have gone below 45c imho. Of course announcement by IGR that cash costs were going up to $850 in 12/13 year was imho bizarre.

What I cannot fathom are the following:

a. SP of IGR getting smashed down to 28c
b. Even more bizarre was CR at 29c - what was it for??
c. CC and PI buying Shares in low 30's some two weeks or so ago. My only thought on this is the SLR T/O was only presented to IGR after this transaction. I am absolutely sure that CC and PI would not have bought shares in IGR if there was any formal dialogue taking place between IGR and SLR at that time. I have the highest regard for their integrity.
d. I can understand that SLR don't want the market to have better understanding of UG potential from the trial mining being done. I suggest that the t/o might have been affected by early processing of the CEB UG ore. i.e. the grades might have suggested that IGR as a stand alone entity is worth more than $500 million perhaps. Its my conjecture but based on a close examination of public domain info.

Well where to from here. SLR will continue to grow their Au properties. The POG will move out of the northern Hemishere summer doldrums. The T/O will proceed to completion. IGR will announce some very juicy drill results. Other M & A activity will be fortcoming in West Australia and hopefully we will see a SLR share price at $4 by the time of completion = IGR = 63c equivalent.