Ann: Trading Halt, page-7

Lol

effective change of control so I guess many insiders will now benefit from immediate granting of rights

either way - Atlantic simberi and all the other investments hived off

more dilution
Some debt being repaid
Some debt staying on

but just like Atlantic - many many many benefits on paper with this new scheme

merged group production will merely do what Lenora was planned to do per year after so much capital spent and raised but which has failed to achieve

dcn got nothing other than a plant

Conditional on many things including waiver of a convenient breached this month

I suppose the taxpayer will just allow the capital losses to be taken over by new merged group

another mega placement - debt and to pay obligations and working capital - but dont worry there are synergies- hypothetical savings in the future

can’t wait to see the carry value of Atlantic and how the write down effectively flows

not sure what is actually being brought to table by other side other than a capital raising

Sbm is essentially destroyed to a fraction of its former self after buying Atlantic for incredible price and promising “ benefits” both over there and at Lenora after a mega development -( which took huge sums and which promised - yes benefits to production and cashflows)

yes- based on forward excel spreadsheets and presentations - nothing but losses and capital destruction — but like all things a new scheme promising the same essentially-despite all forecasting benefits and riches - all checked by experts that failed in the last - it’s merger time and more promises

good luck

- hoping you get a pre mega placement pop as everyone enriches themselves in a transaction which on first glance just seems to be the formation of a number of plants and a number of poor performing reserves

note dcn isn’t even mining now after destroying vast sums of capital - its simply processing low grade stockpiles and imo Just talking up new drilling results

billion dollar plus capital destruction achieving nothing developing Lenora and buying Atlantic with Sbm managements imo

from net cash near 750 m - no debt- to

lower production-
capital raising
- div gone
write downs -

and more dilution coming but offset by theoretical great savings and benefits

Sbm Essentially saving what’s left- luckily everyone with rights and bonus will no doubt clean up with effective change of control