I think the group that has really damaged their reputation in this whole saga is LSX. They held two board positions (including the Chairman) and at least gave the appearance of putting LSX's interests ahead of the their fiduciary duty to all EGA shareholders. It is hard to see how signing a side deal with SLR, agreeing to a "no shop" clause in the BID, or failing to get an independent valuation report, was in the interest of the EGA shareholders.
LSX likes to sell itself to small mining companies as a patient, long-term investor. What company is now going to want to have LSX as a cornerstone investor after this episode?
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