against the sdl merger, page-26

Bigheap, if there were exactly twice as many SDL shares as there are GBG shares, then a two-to-one ratio would, indeed, give equal ownership. But that is not the case. We clearly have a reverse takeover, with SDL holders in the driver's seat, and getting much the better of the deal. On current information, SDL has a smaller deposit, located in vulnerable country, 400 km from the coast, requiring a huge amount of capex to develop. It is, effectively, almost worthless.

The whole purpose of the deal is to enable
George's mates to grab a large slice of Karara and Lodestone, at the expense of GBG shareholders.