Shafted indeed.
Directors are showing total disregard for loyal shareholders some who have held for considerable time in expectation of a return far greater than is being offered by SLR. All this against a background of record AUD gold price of over $2200.
This is a release from EGA last October when the AUD gold price was around$1700
“In conjunction with its financial adviser, PCF Capital Group, Egan Street has received and completed an initial assessment of several indicative and non-binding offers, which have been received from a range of financing groups.
The non-binding offers provide for financing solutions ranging up to $35million of conventional debt alternatives and which contain attractive commercial terms consistent with a project financing of this nature.
The Company anticipates moving forward quickly with the formal appointment of a preferred financier to secure development funding for the Rothsay Project.
Egan Street Managing Director Marc Ducler said the receipt of multiple indicative offers from a range of reputable project financier. “
So 10 months later we have a $500 stronger gold price, an improved and progressed project but no finance and we are being asked by directors to accept a takeover that substantially undervalues the company.
Other words beside shafted come to mind..
I will remember the names Marc Dulcer and Lindsay Falkner and avoid any companies they are associated with in the future.
