SLR Dividend?, page-2

I suspect that the cash won't be given as a dividend .... rather its being set aside to fund the bonuses for the MD, senior staff and the BOD ...
I mean they so deserve credit for getting SLR out of the hole they managed it into (sic) .... BUT, I wouldn't mind no dividend if the cash was used to massively increase production and reserves, by development of in house prospects or further mergers / acquisitions ... so be it. A dividend should be sustainable, and if it's not forth coming then, then it means that Cool Hand doesn't think SLR's profit is sustainable.
If the net profit continues to be of the order of $2m/half , then the only certainty, as night follows day, is that MD and BOD remuneration will remain 'industry standard', & no dividend. SLR has a record of sorts .... produced over a million oz over the last decade and still never paid a dividend to shareholders (BUT, the BOD and staff have done well , as has the Kalgoorlie and WA economies from SLR's endeavours)
According to (borrowed) numbers , on EV/gross operating cashflow basis SAR= 7.6x on 350koz, NST = 11.6x, EVN = 8.1x, SBM = 6.4x, RRL = 8.9x. By this metric, SLR(+DRM) is still cheap, but it's a long way from being included in the gold company elite, despite producing 250koz.pa. SLR+DRM market cap today is approx $570m, 25% of SAR's MC - All other things being equal, SLR MC should (at least) be 50% of SAR's ???
Surely BOD and staff remuneration should be tied to shareholder returns .... the current SP is at the Jan 2017 level .... hardly out performance !