What about the mine that recently closed around last year as well, the banks called the shots and called in the Administrators (or liquidator I can't remember). It was in media because a whole town lost employment. I think SGH sp got a bit of scare at that time, but I thought because SGH had no net tangible assets, the banks were reluctant to call in the debts and sell off SGH - it would not have been in their interest, and a too hard basket to manage. I think that was under Aus rule as well.
Things were going good for me in SGH until the hedge funds got involved... didn't take the warning signs until it was too late...
Fundamentally, SGH was bleeding too much money, yes pumping in 10 sacks of blood keeps it alive, but it was not healthy doing what it's suppose to do.... after prolonged life support, it might just wither and die due to other complications.
At the moment, it's no buy for me, waiting to see what happens after dilution. And it may take a couple of years to repair the damage.
SGH Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
