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clock Created with Sketch. 27/07/22
02:29
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Originally posted by Petersburggray:
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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!
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Here is the link to call with Jordaan, CEO of Superior Gold. Jordaan discussion of timeline for Vango to pay the 80% of Superior legal fees as ordered by WA Supreme Court, start at 15min 08 sec.https://webinars.6ix.com/6ix/Superior-Gold-s-Q2-Production-Results-and-H2-2022-Outlook?bmid=377cce8b551b&source_from=invitation
