My gut feel is that at least in the short term (3- 6 months) LG...

My gut feel is that at least in the short term (3- 6 months) LG will not worry about the 23.78% of SBL that they don't hold.

They are about to transfer operations from Steller to a new group, Mssrs Gill, Clark & Chen. Gill is supposedly independent whereas Clark is now a Director of SBL and Chen is a director of Owere Mines. I think they will want to bed in this change and get a handle on who is doing what with what.

My understanding is that: SBL is 76.22% owned by Lion Gold. The balance (23.78%) by other shareholders. ie You and I and …………. SBL owns 70% of Owere Mines with the Ghanian Govt holding the remaining 30%. This means that Lion Gold’s effective s/holding in Owere is 53.35%.

SBL acquired a 70% interest in the Konongo Gold Project from African Gold Plc (now known as Mwana Africa Plc) through the acquisition of Mwana Africa Plc's 70% shareholding in Owere Mines Ltd in 2009. In March 2012 LionGold acquired a 76.2% shareholding in SBL. Thus as non-LionGold shareholders we effectively own 16.65% of Owere Mines. Is this enough for us to have a say as to who our nominee is on the Owere Mines board?

From the above you can see that to get control of Owere Mines LG needed to acquire at least 71.4% of SBL. They have achieved this. Furthermore, unless the Ghanaian Govt give up their 30% of Owere LG is never going to get 100% of it. So why bother chasing the 23.78% of the SBL they don't already own just to get another 16.65% of Owere?

A possible reason for seeking our SBL shares is that the cost of compliance in servicing the minor shareholders (ie us) is a hassle and a distraction.

Other opinions & comments & suggestions welcomed.