Ann: Recommended bid to acquire Vango Mining, page-22

Similar strategy with Superior as with Henty in Tassie.
Both loosing $$$ even though producing...( Henty circa 15K ounces P.a at Acquisition )
Plutonic D , circa 66K ounces P.A & burning up cash with fast depleting treasury)

Sept Q , Superior lost circa 7M$ and only has circa 11M$ remaining in Treasury.
Should the Dec Q resemble the previous Q then Superior will need to raise capital fast or ??

Consolidation in the Juniors will be necessary for survival looking forwards
as single mine operations carry too high risk for larger allocations of investment ( speculation )

Gold Price increase should help over coming years
but Input cost inflation is squeezing margins throughout the mining space.

Personally after having learnt over past 40 + yrs in Mining Space so many ways
of Miners Blowing Up & then some !!

Prefer to invest larger amounts into the Royalty & Streaming Space for peace of mind.

But CYL worth a speculative play as the Management, Board look like they have a plan
of growth with previous success & experiences to back it up.

Lets wait and see how it all unfolds.
Should be interesting.

GLTA

S.G