Ann: First Gold Pour at Coolgardie Gold Operations, page-34

History shows In early Sept 2012 FML were mining, the gold price was Au $1,600 oz. At that time FML production costs were Laverton $1,216oz Coolgardie $1,294 oz not a huge profit margin. Estimated gold still to be mined 4.3m oz. In late Sept being aware of all those facts SD paid $2.50 per share for 90m shares totalling $ 225m = 49% of the company. In 2021 they then increased their shareholding by another 90m shares when the price was 0.25c to 62.84% owing them $247m = $1.38 per share. That is 9 times todays price. Interestingly as of March 2022 other than SH the top 4 shareholders were all major shareholders 2013 meaning their buy in price back then was well above today.
SH is loving the low price around 0.16c. This is caused by new investors buying low and selling to make a quick return then repeating the exercise.
tonybarber is on the money. My opinion is that if any financial gains are made at Coolgardie it will be channeled into exploration at Laverton and when the time and price is right SH will take steps for full ownership. Currently that is why there are no big investors, it is too risky dealing with an Australian based company controlled by overseas interests particularly China. A full takeover bid from another company I don't think is on the cards as the price needed for SH to bail would be too high.
I know my opinion sucks but I have 10 years as a top 10 shareholder with this company and I am just over it, their lack of accountability to shareholders is a disgrace.