TSXV:SLX.P - Post by User
Post by
Margreton Apr 03, 2012 11:55am
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Post# 19753041
Better Management
Better Management I didn't expect a takeover so soon, thought SLX management wanted to run it themselves.
First Majestic management is one of the best managers in this business. Coincidently I hold FM too. Not getting the multibagger as hoped but nice profit since i bought it recently.
The one concern i had with SLX was their management, appeared to operate just like Hecla. Gave themselves a lot of stock options this March and do that every year. Dilution was a concern. Took them whole year just to get a 300tpd back up. Looked like they wanted to re-drill everything Genco did. FM can get this district up much faster and have the cash to do it. FM starts building mine without wasting time proving up reserves. Some companies spend years drilling to prove reserves before they even start building mine.
The clincher is the termination fee SLX has to pay of C$6.14 million. SLX can't afford to pay that much so it's suicide to vote no. One last kick by sucky management to poor shareholders.