Ann: Silver Lake and Doray Merger Presentation, page-94

I think the recent EXU/RMS deal is worth looking to for the way forward. Once the deal was resolved there the SP of RMS took off. I think we will see the same with SLR.

The high A$POG should really lift the SP of the high AISC producers like SLR. The next few months should prove very good for SLR.

One thing we should not forget is the board of SLR changes with this merger. If SLR were smart they would use the change to try and turn around the market perception of SLR. LJ shifted the perception of DRM and he could do it again with SLR. If he does we could all do very well out of this merger.