Frankly I'd rather they either did a deal with RED (share price is up 27% since SBM went into halt) or just did a deeply discounted rights offer to get out of the poop as long as open to all shareholders.
$A gold is over $3000. Put Atlantic into care and maintenance and pursue a scip merger with Signal Gold of the mill and tenements (i.e. sell) alongside an inspecie of the stock. Genuine synergy with a high grade project owner and mgmt and board experienced in Canada. Thing would probably Disallowed.
Milk the Simberi oxide opp for cash (making money at $3000) and make the call on the sulphide project down the track.
Then either push ahead with finishing the Bardoc mine to feed Gwalia or merge with RED. Genuine milling synergies (c$150/oz in my view) and buying into a long life project at fairish value.
SBM Price at posting:
64.5¢ Sentiment: Hold Disclosure: Held
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