Fellow SBL HoldersWe are not out of this game by a long way.A...

Fellow SBL Holders

We are not out of this game by a long way.

A few observations from the last couple of days.

SBL ex-directors appear to have taken up their 55m options and handed them on to Lion as apparent in LGs Change in Substantial Holding notice this morning 21/3. On top of that LG picked up about 3m accepting the offer since their last notice on the 16/3. They now have 61.62%

Weiss are sitting on 6.5% which gives LG/Weiss just over 68%.

WE STILL HOLD 32%. 22% is the game over figure at 90% so we MUST work to that figure. WE still have lots of strength.

The Share capital on issue i assume has now increases by 55m (the options exercised yesterday)

Share Capital on issue should be 2,759,575,214

LG as at 21/3 hold 1,691,252,624 (61.6%)
Weiss as at 20/3 Hold 175,920,840 (6.5%)
Current combined Hold 1,867,173,464 (68.1%)

90% Required for Compusory T/o 2,483,617,692

LG / Weiss Current SHORTFALL 616,444,228

That's what I calculate that they require to reach the 90% before they can compulsory acquire us, 616,444,228 share.

PLEASE, do your own calculation or correct me if you see any miscalculations or things I've missed.

At the close of business tonight Comsec shows that there are 154 sellers for 117,218,304. They need 500m shares more than what is available.

Given that the extension closes on Tues 27th at 4pm, technically unless Weiss or another friendly drops out of the sky and buys 616,444,228 shares TOMORROW allowing for T+3 we are heading for another extension, probably 2 weeks or so and more upward SP pressure.

It is clear that there are a lot of SBL shareholder carefully holding onto their shares.

This will push us to mid April and only a couple of weeks off getting first quarter results on the 30th April.

Thats only one more extension again IF WE HOLD STRONG.

Now that report might be real interesting!

As I see it unless the large majority of SH that have held on up until now, suddenly cave in between now and Tuesday or unless Weiss can buy 5 times the available shares in the market as of tonight we are heading for another extension and we get to fight another round.

I wonder what sort of names we are being called in the LG board room. I can see a whiteboard now with numbers all over it that aren't meeting the targets and timelines that where set.

It is now a SLUG FEST. A heavy weight that has used up the big hits. I think yesterdays 55m options was going to be the knock out at the end but they had to use it early. There is only a small 13m (I think)options @ .02 sitting out there that could possibly come into play but I don't expect will have any effect.

The lightweight SH's in the other corner are stubbornly ducking and weaving holding on to their prize. 1.47 m JORC ounces as well as an extra $825,000 cash from yesterdays 55m options exercised. That should keep the wolves from the door for a bit longer.

Just my summation of the ongoing saga. I stand to be corrected, but i feel a stong feeling of injustice out there amongst my fellow SBL holders.

Starve them of shares to buy and the price has to move up and significantly. Remember they need 5 times what is available and the minute we crack its all over.

Supply and Demand is now in play. If we stand together they can't get what they want until they FULLY satisfy our needs.

5 cents would be a good starting point. If you don't set a goal you'll never get it !

If we get them moving North on price we can keep pushing the price up. They have got 68% of the company for a pitance.

They can pay a premium for the rest if they are desperate to get it off the ASX. That's probably in their equation anyway.

Stay United.

IMHO Don't give your shares away for a pitance.

Cheers to all Peteski