Mentioned earlier I am a no vote and continue to be confused with the valuations provided in the independent experts report (the report).
My confusion starts with the gold price and exchange rate forecasts detailed on page 43 of the report, calculate the A$ gold price for 2024 through 2026.In 2026 the A$ price forecast is around A$2813, not far above RED’s hedge price of A$2797.
Now forecasts are always subjective and the experts used “consensus” forecasts, so I am not going to argue,I will just note their forecasts are different to mine!
Still thinking forecasts, I wonder what was SLR’s A$ gold forecasts when the decision was made to end the company’s hedging strategy. Would have to have been higher than A$2800 in 2026 surely.
So a question for the MD and SLR Board (the Board), do you accept the forecasts provided in the report, would you make important decisions based on them?
Are those assumptions, (particularly A$ gold price) anything like those used by the company to support their decision to end SLR’s hedging policy? I would suggest not, but maybe the SLR forecasts have changed and SLR will reinstate a hedging policy given the expert’s forecasts are now available to them and would support such a decision!
Don’t think so, too important a decision and the Board did appear ‘strong’ on the gold price?
But here I am, about to make my decision based on these forecasts (which I don’t know if the Board accepts).
Confirming I did vote No, because I am confused (see above) and because of that, I don’t have confidence in how the Board has presented this ‘merger of equals’ to me, including the experts opinion.
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Mentioned earlier I am a no vote and continue to be confused...
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