20c post the proposed 70 for 1 consolidation puts SMI at a lower value than today's price at 0.3c. Still, it is not much of a discount I agree for a pathetic company like SMI (less than 5%). However, I would refer you to my post under hotcopper.com.au/threads/ann-acquisition-of-bendigo-ophir-gold-project-new-zealand.5621843/ SMI management seem to regard their existing tenements as valueless to enter into a transaction of this nature. Basically, it speaks of desperation to keep the company going and so effectively are handing things over to MGL, even while retaining their Board appointments.
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