Danny, need to tell you that I agree with much of what...

Danny, need to tell you that I agree with much of what PulpCutter writes, not 100% but close.
And, seems interesting that, including Kori, all four of us would prefer, for different reasons, that CYL withdraw their bid. Not sure anyone's listening to us, but you never know.
The 'real value' of SGI....been tossing that over in my mind for awhile.
I see a company that made $ 14 million in 2021, after subtracting 11 million for depletion/depreciation ( which likely vastly over estimates ), has ample ore reserves, no 'soil' problems a la CYL, two mills, can produce 70kozs from underground and has millions of ozs available from a main pit expansion project, that will, however, require a 120 million spend first.
What's being presented to holders is.....'SGI is in desperate trouble, we need a savior, NOW'
and that is simply not true..........
The project that so damaged SGI last year, the 'main pit deeps' project, which sucked SGI dry of working capital....thus requiring the loans, didn't waste the money, it used it up to uncover rich open pit ore right at the mill sight ( however, it probably was 20% more costly than reqd, and SGI has no need for that ore...until a new tailing pond is built ). That open pit ore would be a valuable asset for 'a new owner', and is a valuable asset to the present owners.
I value SGI shares at a dollar, based on 12 times (normal ?) after tax profits ( $10 million in 2021 ). On assets, arrive at above a dollar a share...starting with CYL's t/o of vango, valuing Marymia initially at 65 million (despite SGI owning 50% of K2 and Zag's interest ).....( now CYL only getting 47% of K2 and 60% of balance of Marymia for same price ).
Can an opportunistic buyer buy for a lower price than a dollar ? Sure, maybe 70 cents on the dollar.....but not for the current offer.
Then, the other question is the value of the currency being offered.....and that's a whole different subject.
The obvious question is WHY ? Why would SGI directors agree to CYL stealdeal......and the answer revolves, imo, around the fact that the directors really have NO shares ( ok, tiny amount ) in SGI.....thus, to put it generously, their interests were not aligned with those of SGI shareholders...and I'm being very very polite.
Cheers



I'm quite happy to put up a few more dollars, if required, to be 'the new owner', and benefit from the already paid for bounty.