Ann: Silver Lake and Doray Merger Presentation, page-14

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14/11/18

10:14

Post #: 36496505
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Originally posted by plough ↑

I could understand the reservations on this if Les Davis was still the MD of SLR , as he was in charge when Tukabianna failed and many shareholders lost their shirts , however he is now just a board member, and Luke Tonkin seems to have a strong following
I would have preferred if DRM stayed like it is from a sentimental perspective as I really like Junk's underpromise overdeliver demeanor which is getting results and he is putting his own stamp on the DRM company .
Also I would have preferred a board spill at DRM with the departure of the Chairman and the board members and kept LJ with a more dynamic board prepared to get in behind him, the current board seem to have been MIA from a shareholder PR perspective , (why is LJ doing all the presentations) .
The $100 M cashpositon of SLR is a poisoned chalice , as it does not promote thrift adn Mt Monger AISC are higher than DRM effectively Deflector returns twice the profit per ounce going forward of Mt Monger ,
SLR has been through this merger scenario before , with Integra , (IGR) the initial results were dismal .

Guessing with all the engineers on the board the merged company will transition to owner operator for mining

Conclusion Guess I am on the fence on this , but prefer if it does not go ahead and DRM just has a board spill and brings on new blood

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Well the market seems to think SLR got the better end of the deal.

DRM Price at posting: 34.0¢ Sentiment: Buy Disclosure: Held
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Ann: Silver Lake and Doray Merger Presentation, page-14

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