The Reserve Banks interest rate policy is widely misunderstood...

The Reserve Banks interest rate policy is widely misunderstood .... most assume that its to try and protect the housing market, when in fact its to ensure the A$ devalues against the US$(which is devaluing for various reasons). An expensive A$ would have terrible predictable consequences for Australia's balance of trade and the Federal Governments surplus (which they have already spent in a desperate attempt to win the next election .... shades of 2007 where those political geniuses, Howard & Costello spent the proceeds of a one in 100yr commodity boom instead of creating a sovereign wealth fund like Norway ... ).

The investment world at large still has not twigged that the gold sector is on the verge of another huge boom, thanks to record A$POG and relatively low oil prices ....meaning AISC's will remain constrained and profits should soar for established producers. 

Companies like SLR that are (wrongly) perceived as high cost, are about to have a massive increase in net profits as their margins increase substantially.

Hartleys November 2018 noted on the SLR?DRM merger stated that "both companies have flagged operational returns in 2019 will be second half weighted" .... I think that's going to be the understatement of the year and "Hartleys forecast combined net of debt cash & bullion of $190m" may be conservative  .... Hartley's predicted A$ was 74c June'19, 76c June'20, 77c June'21 .... US$POG June'19 $1260, June'20 $1327 ..... 

A$POG June'19 A$1693, June'20 A$1750, June'21 A$1720 .... Hedging 75koz June'19, 60koz June'20, 24koz June'21.

Also Hartleys believes that 250koz p.a. to be the base case for the merged entity ..... highly profitable and >A$200m in war chest ...OMG!

So, Hartley's price target of 85c for SLR & 58c for DRM would seem to be conservative ??