that is exactly the same theme and ideas sprouted from rooftops...

that is exactly the same theme and ideas sprouted from rooftops as new ceo came into Dcn- which is also part of the merger - ceo had awesome track record - he was gunna turn it around to be next nst sat yada yada -

he reorganized - did careful plans to consolidate production to be more profitable - but he burnt through hundreds of millions of dollars in capital -delivered positive sounding announcements but made even bigger losses( continually) -he achieved nothing other than sending shares on issue up 100s of percent - got paid a huge amount for printing nearly 200 m of operating losses in the last year - still got paid in full and despite wide belief he could turn it around the deposits were always high cost and he delivered nothing despite multiple try’s to lift the resource and reserve - all the junk it had and acquired are now bundled with Sbm deposits in this deal - lots of plant not much ore of any significance that can come out of it - the hero ceo at Dcn is gone just like the hero ceo at Sbm that was gunna turn around what was left behind by the previous hero ceo of Sbm , Vassie who paid insane prices for Atlantic and spend hundreds of millions developing gawalia which was going to deliver increased profitable production but which has delivered the total opposite - resulted in debt being taken on- saw divs cease

the essential acquirer of Sbm in this deal brings nothing to the table in terms of reserve to make up for Sbm current ore or Dcn which is now back to being an explorer and processing dirt stockpiles after every deal it made failed to produce any capital improvement

forget the hero ceo idea everything in the pipeline across all the deposits is still miles off and the merger clearly states even. Ore money for development in future is required - I suspect just a lot of very nice salaries will be paid and there is no guaranteed success as the reserves are not great or miles off economic confirmation and peppered all over the place - and until that changes( ie one big long term ore reserve ) it will remain high cost so shareholders probably won’t see any underlying capital improvement

genesis will get a huge amount of taxpayer losses though and control of some plants surrounded by poor high cost ore reserves and managment will be rewarded well for sure while they say next qtr next year

the monster risk of course to this mega plan is costs vs gold price aud- Sbm making next to nothing gross per ounce now - imagine what happens to Dcn ( stockpile processing ) and Sbm if the gold price fell 250 aud - the total losses will be hardcore, more shares will need to be sold and existing holders will get even more torched

new ceo will get paid either way - they seemingly always do- hopefully some share price bumps on grand plan presentations but they will fade as operating two plants - Sbm and Dcn in oz with poor ore is going to be very costly until the feed dramatically changes