LionGold bought Belevedere (Phillippines) in April for $US1.15...

LionGold bought Belevedere (Phillippines) in April for $US1.15 mil; Batouba (Mali) for $US300K; African Steller (Ghana) for $US5 mil and in June they bought Abundant Minerals (Mongolia) for $US16 mil. All cash deals. In June they sold Think Environmental & Think GreenEnergy for $S24.6 mil. So why is their offer to SBL shareholders a scrip offer?

The only folk at LionGold's Boardroom table that look as if they have any mining nous are Peter Chen and John Tolton. Neither appear to have any hands on mining experience. Chen is a lawyer (Aust National University) & Tolton is a business investment manager with a BA (Toronto) in International Relations. Their biographies can be found in the following link along with a bunch of other interesting stuff. (All 91 pages). While none of it inspires one about their ability to do wonders with SBL a more charitable response might be to have a good hard look at the facts about how they are doing in the Phillippines, Mali, Mongolia & elsewhere in Ghana.

http://quote.morningstar.com/stock-filing/Annual-Report/2011/3/31/t.aspx?t=XSES:A78&ft=&d=f2bc635c79063b169c89a0ef96ae1062