If the St Barbara board were working in their shareholders best interest they would have met with Silver lake when SLR first approached them over 12 months ago, announced it to the market and created a competitive environment. But for reasons that I have my suspicions about because of a number of things I have been told by a couple of people closely connected, that I will not state here, the former chairman Tim Netscher and his board have been determined to deal with Genesis at the exclusion of all others. Our board even suspended development of the Zoroasrian mine and diverted resources to help develop the Genesis owned Ullysis mine, which is just beyond belief.
Why should SBM shareholders now trust the board to negotiate competently to extract the best deal for us? I don't.
Gold is in a bull market and I believe SBM shareholders want to participate and prosper in that through it's Leonora assets being managed well. I do.
SBM Price at posting:
58.5¢ Sentiment: Hold Disclosure: Held
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