CYL 0.56% $1.77 catalyst metals limited

No vote = MAD?

  1. 369 Posts.
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    Plenty of discussion about how with a no vote, sgi stockholders be destroying their own equity due to potential bk filing by sgi after no vote, due to SGI liquidity crunch. Sgi shareholders got to burn down the barn to get rid of cyl puppet BOD and c suite rats...could no vote be a mutually assured destruction event for both sgi and cyl? cyl got $20mm in currentcy in bank but if no vote happen this funds be spent in less than a year covering vango current liabilities with no prospect of funding whitelaw drilling except with further massive equity dilution. plus no vote mean marymia stranded asset with no process plant...vango current liabilities like$10mm for maturing covertable bond, $5mm owed ccp etc. Google Henty mine and up pops academic research about the extreme squeezing conditions underground at henty...drifts have to be excavated wider than normal to because extreme pressure forces drift walls to slowly 'squeeze' or collapse the drifts in on themselves making drift too narrow for mining fleet to use...over the years how much capex been deferred at henty? Henty prolly could swallow $20mm capex easy over next 12 month but with vango current liabilities, cyl has zero dollars to invest in henty. I think no vote by sgi shareholders be catastrophic for cyl.

 
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