They have very good gold assets from the last quarterly.
It sounds like an excuse to fast track any future deals. Just a boardroom decision.
It sounds like a simple majority vote to de-list? If so, Lion will carry the day.
Directors don't hold shares - they say. Presumably, they will run the show semi secretly to Corp Act rules.
Is the Corp act still a protection for shareholders. I mean we don't trade the shares. We're all too far under, & like me, hoping the gold price holds up & SBL can get it out of the ground profitably. It could also prove up the mine as an attractive buy-out.
That might also mean that all the surplus cash flows back to Lion for their loans (c.$36M?). How are they secured, & is the board made up of Lion stooges anyway?
They claim a saving in red tape of $34K - pretty paltry. Will we still get something similar to their present Activities report, albeit only half yearly?
My ramblings for this disastrous investment.
Cheers, Japes.
SBL Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
