Well that will remove the Insane admin expenses & director fees at VAN. Only people who have profited to date from VAN are the Promoters & Directors with constant dilution & capital raises with Vulture funds & Retail. and this Transaction will give the looooong suffering VAN shareholders finally some upside & some realistic hope looking forwards.
After the Merger CYL will still have circa 150M shares outstanding fully diluted. & CYL has a strong Share Register with St Barbara / Hancock Prospecting & Agnico Eagle with around 15% each pre Transaction.
CYL ( which I am a holder since circa 3 yrs) owns the small Henty Mine in Tassie ( acquired jan 2021 ) which produces expected 35 K ounces this year.There are 3 drilling rigs operating underground & 2 above from memory at Henty.
Plus the very prospective ground adjacent to Fosterville which also has at least 3 Drill Rigs operating.
Also the quality of Directors & Key Management are Top Drawer at CYL.
GLTA ,
Best,
S.G
VAN Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
