liongold takeover cannot be taken seriously

Hi everyone

Received the 1st and 2nd bidder statements in the mail yesterday.

Re-read said material which has only confirmed my belief that the mining plan that they have come up with could only be described as laughable.

Their tenements appear to have been worked over by every man and his dog in the last 40 years.

The Independent Geo report was unable to substantiate a recovery grade, basically saying that further work is required.

The tenements appear to be subleased from another company and very small in size (25 acres), the Geos report recommends speaking to adjacent landholders to expand the area for mining.

Very close management attention will be required to maximise profits (I think this is code for: if you dont watch every spade full of dirt going though the sluice your profits will disappear into the pockets of your miners)

How LG invertors are going to allow around $SGD40mil to be spent (blown) on top of the equity dilution is truly amazing.

Now that other players have entered the arena with a minimum 11% holding, which at this stage effectively blocks the LG takeover, I cannot see any legitimate LG investor being happy with this deal.

I will be surprised if LG can even achieve a majority holding.

Strange games are being played, the issue we have is there is no one looking out for our interests, so us shareholders can only go on the snippets of information being slowly released due to regulatory requirements.

Let call their bluff, dont sell, hold strong.