Good analogy. The ship is fine but the captain and first mate have been on the rum. The hedge funds haven't come in with some sort of rort finance deal or share swap they're buying shares on market. If the shares go south they're out of the money and they'd be smart enough to know that holding LG shares isn't the end outcome. The original reason why I bought into this was the tenements and existing plant. Both are still there and all we've proven is the board weren't up to the task. I'm betting (appropriate term given the risk) that the hedges will sort this out without screwing people holding shares. Unlike the increasingly murky LG offer.
Prepared to lose the lot but think it's unlikely.
Cheers!
Stu
SBL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
