@nordesmic@Ophir - I agree with your points - stock would appear oversold given today's quarterly.
There's no surprises in this - the extra costs with Cock Eyed Bob were well telegraphed a few months back.
It's also worth nothing that Imperial has a reserve grade of 4g/t which is much higher than the ore it is replacing from Majestic of 2.5g/t.
Thanks to those who posted the prior history of the directors - it's good to know the full history.
The board isn't doing the shareholders any favours though by not releasing exploration results - too many mid-tier goldies have adopted the view that they're above releasing exploration results - I disagree - you're not a reliable gold producer until you start paying dividends - the withholding of information only enables the shorts to drive the price down - I agree with the view that the institutions encourage management not to release information so they can lend stock to related parties who profit from shorting. If ASIC were serious about stopping this they would require short sales to be disclosed by name and not just volume. Longs need to disclose if they are hold greater than >5%, change in substantial holdings greater than 1% and the top 20 shareholders in the annual report. Also longs are forced to make a takeover if they hold greater than 20%, hence stopping anyone cornering the market. So why don't shorts have to do the same?
A good mix of exploration results from the company would suggest there's plenty of gold still left in SLR's tenements. The board should be releasing the results more regularly.
Not the most spectacular goldie but sub 35 cents one of the better value ones given cash, hedging and near term productivity increases.
Not sure why the stock is being sold down - could a capital raising be on the way for a takeover - BRB aren't that far away!
GLTA/IMHO
SLR Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held