Wow we now have cash, lol, surprised 0ver 260 SHs participated, I would have thought it would have only been the board, their mates and a handful of supporting die hards... Strange world we are in.... Don't think Collin St participated!
Finally, SVG has some money in the bank and how much of this will be paying the CNs 12.5% interest bill. So imo, SB paying $600k shortfall is basically free and an offset for him, as he earns this in CN interest...
More cash to come after the sale of coking coal, however my biggest concern is why SVG still haven't applied for licence to build plant and produce at Agate... This should be this companies priority and minimise the costly tolling fees transporting this pathetic low-grade rubbish, which isn't profitable, we actually make losses taking this Georgetown. Georgetown should only produce the local Georgetown ore imo...Huge mistake and only benefits our conflicted MAAS, imo, can't understand this flawed logic of tolling such low grade to Georgetown, big costly mistake....
SVG has to process at Agate and recover the deeper bonanza grades if we are ever going to get out of the mess we are in, as this company has to produce gold at a profit, not continuing to do this at a loss... Plus Georgetown is only a 7-8 month operational plant, due to weather and the plant is becoming a major cash burn and very unreliable.
Last point it that SVG has to cull 2 directors asap I suggest MB/PW imo.... Do this and maybe restore market confidence and end the bad market sentiment, bad stigma of being a lifestyle, boys club imo.... SVG get your act together, once and for all, time to end this 17-year SP collapsing chart....
SVG Price at posting:
3.0¢ Sentiment: None Disclosure: Held
