Ann: LionGold Investor Presentation , page-6

"• LGC perceived SBL was undercapitalised, underperforming
and in some ways distressed – not able to achieve growth
expectations without further capital injection."

Demon - I would have to agree with this. And ponder whether this is the reason why mgmt let it go so easy.

There are plenty of ASX listed Emerging Producers who would jump on a deal like this? Surely this project, with all its resources, exploration potential, infrastructure and gold production would be worth say $100m? Why havent they?