SLR 0.00% 58.5¢ silver lake resources limited

The SLR playbook

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    Play book:
    Decide to build a new mine and gold project based optimistically on the POG going up forever.
    Incur massive cost overruns during construction for a total cost of approx $100m.
    Start mining and realise that the the project is a dud due to falling gold prices and high cost of production.
    Place dud mine on care and maintenance incurring ongoing costs to balance sheet as POG keeps on falling.
    Finally hedge gold sales at very low Aussie gold price and forward sell gold to a bank to ensure cash to survive a bit longer.
    Watch as the Australian POG soars to almost $1700 per oz way above hedge price.
    Can't wait for the next master stroke by the company.
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