What changed today Kotare, quarterly out and way below my expectations, cash build not much ,at a great gold price. ," Underlying free cash flow for the quarter of $13.3 million" compared to a great last quarter of ???????
And the same management are dumb enough to try a takeover of RED. Trouble is they will need more than a billion. But they are still buying RED 'inclusive of a further $2 million acquisition of 7.6 million Red 5 shares post quarter end"
They borrowed 130 million , looks to me only needed half that as they had the rest in cash. Why ?
So my bet today is they will mount a takeover of RED, RED,s price will go up and SLR will go ???????? Good day to take some profit.
Toss that coin folks!
SLR Price at posting:
97.5¢ Sentiment: Hold Disclosure: Held