It's been a disastrous week for SLR shareholders so far.
I am not sure it was all for the Gold price or the sentiment.
There was no reason for this sharp decline on fundamental basis. Except the Human Factor.
Hundreds of people have hundreds of different thing going inside their head, who and when someone or some institutions decide to sell nobody knows.
Anyway, my point is the company must now engage in Share Buy-Back Program. Even it is for 5-10 million dollars . This will have a much better outcome than any dividend payment. SLR is not short of cash and there is plenty in the bank to buy back its own much undervalued shares. Recently KCN( with no income coming for many years except any compensation for the THAI fiasco) announced share buy back and the share price moved from 27-42c. All the while SLR dropped from 41.5-34.5.
I am sending an email to the company about this Share Buy Program. I encourage every shareholder to do the same.
It is our money and we should all have a say about what is in the best interest of shareholders.
At this moment there is no better investment for SLR than to buy back its own shares.
When the sentiment in gold sector and price does turn around, those same number of shares can be issued at much higher price.
