Vango should buy Superior Gold asap. vango market cap is $49mm vs Superior $28mm so for just $28mm Vango could get a newly refurbished 5000tpd mill, plutonic underground with just delivered new underground mining fleet plus a new jumbo and the $21mm in cash that Superior got on balance sheet so really purchase of Superior only cost vango $7mm. Only liabilities Superior has is the auramet $10mm gold loan payable in 4140oz gold over next 18 months at price of aud$2415/oz and 13500 oz gold calls sold at aud 2900/oz. Once vango buy superior for $28mm vango could use $7.5mm of Superior cash to pay off the mutual fund loan plus save lots of future legal fees and save having to pay 80% of Superiors legal fees as ordered by wasc in 2021wasc459(s). Huge synergies also in personnel. Bruce Mcinnis could run combined company, fire jordaan saving combined company $475k per year. Huge savings since bruce only making $440k.
VAN Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
