120 biggies in the bank, page-11

slr's always been on a big discount because it doesnt have the 5+yrs of reserves instos want and high aisc

+ mgt rep never really recovered from 2011/12 fiasco

but you'd have to think with the A1 grade goldies mostly rated out to 2-4x the ev/gross margin - and slr continuing to show its able to reliably hit production targets in recent times that view may come in for review

im taking a position on view that if they can shift production up to ~180koz @1250 aisc that will be a trigger to bring it into insto frame

if they can do that then imo it can 2-3 bag from here in 12 months imo

really wish theyd learn how to do investor relations though. the way they present info is a bit b-grade - reminds me of rms... too many holes in the data

agree cash this qtr likely to be around $90-100m i expect. shares in some listed coal company arent cash

if china does puke cos of trade wars or just economic slowing causing leverage breakout aud could tank and aud goldies really get bid hard

but its cheap enough with a potential catalyst to be good on a steady state basis