Totally incorrect, but befitting a second rate spruik.
you could learn a thing or two from bobblehead.
the last 5b had $23m and change but expenditure trajectory nearing 3m per quarter. So they're already into the high teens of cash reserves and depleting at an accelerating pace.
for those who point out that this tactical pivot requires minimal upfront cash, that is correct, however;
* SVL will now be incurring expenditure on two additional fronts, yet the path to production is not accelerating itself. Rather than turning one asset into a cash cow, they're effectively deferring this revenue and spreading their focus across more and more assets. (unless...ca-ching....incoming CR as per Pirate). Yep, look forward to more business class flights and less time in the office. At least these tenements are but a short private jet from Aspen, so your investment will be put to good use.
* I'm not sure why holders don't want to accept that this acquisition comes at the cost of dilution of their own holdings in Bowdens. How do you think they averted a huge cash outgoing? Easy...offer in kind consideration by trading ownership of these US mines for equity in SVL. I notice one tranche is not even subject to escrow?!
aside from the nice side kicker of circa $350k aud to the financial advisor.
my guess is the BoD will avoid any talk of CR until the AGM is done and dusted and then, voila, as if by magic, a CR will be discussed in late q4 CY25, with funds available by mid q3 FY 25/26, by which time at a cashburn rate of circa $5m per quarter, they'll be down to mid single digit millions, whereby there is insufficient runway to defer a CR any later.
this CR will just be to kick the can down the road, I'd estimate another to commence Bowden's construction (and this could be on shaky ground), and one prior to commissioning.
how on earth any Board of Directors could think this an exercise in appropriate financial governance is beyond me.
if you have cut your teeth in mining production that's one thing.... sure, go and extend the portfolio. But when you've been sitting on your prime asset for nearly a decade, and it's mired, and you've already acquired two local prospects (which are cash drains), any BoD signing off on this seems utterly reprehensible to me.
unless....of course....they have a dim view on Bowden's they're not sharing with us.
imo et al
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