I put some questions to our chairman , John Bentley
If we have three investors why are only two names given THE THIRD HAS LESS THAN 3% SO NO REQUIREMENT TO PUBLISH.
Of the 90 million shares only 60 million have been taken by the investors, where are the remaining 30 million shares going THEY WERE SOLD TO OTHER INVESTORS – ALL BUT ONE IN AUSTRALIA. IF ANYONE ENDS UP WITH MORE THAN 3% THEY ARE OBLIGED TO ADVISE THE COMPANY.
Following the issue of the placing shares we will have two new significant shareholders with 57,333,333 , has the third investor only taken 2,666,667 shares YES
Is the third investor already a major shareholder NO
When is the shareholder meeting liable to be and where will it be and will it be video linked with Aus PROBABLY END APRIL/EARLY MAY BEFORE WE HAVE EVERYTHING IN ORDER. WE ARE REQUIRED TO HAVE AN INDEPENDENT EXPERT’S REPORT TO OPINE ON THE FAIRNESS OF THE DEAL, UNDER ASX RULES. PROBABLY HAVE A PHYSICAL MEETING IN LONDON OR EDINBURGH WITH A VIDEO LINK
When the loan note is converted the new shareholders will have a very large percentage of the company , are there any provisions within the deal to stop the new shareholders buying the company out or using the percentage holding as a casting vote A COMPANY BUY OUT WOULD REQUIRE A FURTHER FAIRNESS OPINION AND AN EGM
How much of the 10% premium being received for the Scottish gold and silver will be lost to refining costs CS MIGHT BE ABLE TO BE PRECISE ABOUT THIS BUT NOT MUCH Chris Sangster quoted $15 an ounce but expects to possibly pay a little more due to size ------------------------------------------------------------------------------------------------------- I now know where 40% of the 30 million went ,these where placed with existing shareholders with one taking 10 million shares, taking his holding to over 21million .
We now have 4 major investors that I know of who's own individual net worth could easily fund the mine development.
On 9/12/2013 I mentioned 2 visitors to the mine , that has turned out to be the two new investors, see picture 5 taken by a friend who witnessed the visit.
If anyone is wondering why there has been no notifiable interest RNS , it's because we have a dual listing and anyone who is holding their shares on the ASX need only notify the company when they reach 5% under ASX rules and not 3% as is in the UK.
The top twenty shareholder list is out of date and is not always accurate, if someone holds their shares in several different accounts as I do it can be hard for the company to establish their entire holding , I know of 3 people on the list with larger holdings than stated .
SGZ Price at posting:
1.1¢ Sentiment: LT Buy Disclosure: Held
