Q: `please provide your opinion of the progress of this company. last update October 2022
5i Research Answer:
SLS has $24M cash, plus $30M from warrants exercised in March, but as a developer no revenue or cash flow yet. It has found a second porphyry at its Warintza project in Ecuador with strong mineralization and higher grades. This adds more potential. There has been some board changes, and some nice assays. The main news since October is that the company and the government of Ecuador have ratified an investment contract for its project, eliminating some risk. Still, the stock hasn't done a whole lot. There has been some insider buying, and Augusta Investments still owns 40%.