SLR have hedged about 130k oz of pre-merger production at approximately $A1725 over 3 years .... a necessary insurance policy for a transiently high cost developer of new mines backed by aggressive exploration. So the majority of production will be available to be sold at current POG.
The risk of a low POG weighing on SLR in its ugly duckling phase has been quickly forgotten by panglossian retrospectives.
The hedging policy was de-risking policy as is the aggressive exploration policy and now the mutually beneficial proposed merger.
Barracks merger with Goldcorp is confirmation of the merger trend at large, as is the recent activity of NST ... get big, strong and emphasise quality ... winter is coming. Brexit may just be the first destructive storm of a new dark age.
SLR remains very undervalued, and the market is giving way too little weight to its fundamental strength and the importance of its bulging war chest.
It will be neck and neck between RED and SLR for "gold miner of the year" at this years Diggers & Dealers.
Revaluation, page-4
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