I doubt it most likely SLR will not have any room to move down...

I doubt it most likely SLR will not have any room to move down with the POG at its current state, any selling pressure should be picked up and bought back out by institutions and push the price back up.

What I mean by this is that most institutions would be, looking at gold as an attractive investment opportunity by now. At which point if they are already monitoring or looking at potential places to invest then any weak share prices that are oversold will most likely be bought up by an institution.

I.e If institution A wants to bring down the price then institution B will see a good buy opportunity, causing institution A to take a loss with the share price pumped back up by institutions B.

This is the Australian market, not the US, the asx is actually pretty tied to fundamentals and intrinsic value. SLR will most likely go up due to strong POG and red will most likely go down due to hedges on the strong POG. SLR will basically double their profit margins on the POG and effectively earn 2 years of profits in 1 year. While Red will basically be sitting on their hands and earn 1 year of profits in a year, while every other gold company out there is earning basically 2 years of profits in 1...