Timeline of VAN paying 80% of SGI legal nut

Sounds ominous and expensive. The last funding guys won’t be paying for anything as stated, so it’s either Bruce’s trusty Chinese backers bailing them out, relinquish assets and pack up shop or keep wasting time fighting in court. I’d say the Colin’s St guys would be straight on the phone to Superior and do a deal that VAN should have done years ago!

Looking at the volume increase yesterday and today feels like we might be getting something anytime. Not that I’m suggesting there would a leak etc. hopefully it’s something positive for once that will increase the share price for holders.

For several reasons I doubt a mutually benficial merger deal can be done at this time. For one thing, in my opinion, the equity of both VAN and of SGI are very mispriced by market currently. SGI equity have market cap of CAD$78mm, back out USD$19mm on balance sheet and no debt leave SGI profitable gold mining business with valuation of CAD$54mm. VAN equity valued at $57mm, add in $10mm debt mean VAN business that is burning cash daily valued at $67mm, or about 20% more than SGI!