Perhaps someone could explain what this loan facility will be used for. Before this takeover attempt occurred didn't SBL have more than sufficient money in bank to fund itself. We we not producing gold and had millions of dollars of production waiting to be converted into cash; didn't SBL raise money from it's shareholders; and finally, but not necessarily the only thing worth discussion, we had a fully functional operating plant with a newly re-constructed mill, located within kilometres of our identified resource field in one of the best areas in the whole of Africa, and therefore had a low cost producing company.....so why the need for this loan facility now.
Was it Lion Gold which provided the initial $5.38 million loan facility, or was it another identity, and what might this money have been spent on by SBL if it has, in fact, been used? I cannot recall any announcements indicating what or when it was specifically required for. Will have to go back over the limited announcements of late so see if I missed something.
I agree with Uberplodder that this new extended loan facility could be 'too good to be true and wonder where the catch is?'
Is this another throw away announcement to confuse and give false impressions to the non Lion Gold share holders? Bernie
SBL Price at posting:
0.7¢ Sentiment: None Disclosure: Held
