Seems to me that you need to go with your gut feeling on this...

Seems to me that you need to go with your gut feeling on this one. If you think that Sbl has too many shares and little chance of raising the capital to develop their gold belt, then maybe lion gold have the resources and knowhow to make the most of these goldfields and ultimately bring the share price above current levels and offers.
If you think that the current board (who don't seem to think they want to do it) can lead the company forward then vote for them. The offer of accepting a better offer is on the table but I don't see too much interest in it. I bought in at 3.2c and believe lion gold are my best chance of getting my money back, even with the 1 to 34 trade.

"the only thing certain in shares is that nothing is for certain" -Dogson.