NgdI bought Harte when NGD invested ,figured NGD knew what they were doing and that perhaps would lead to the mine becoming profitable.That was obviously a mistake .In the past I owned NGD also ,Oliphant wrecked the company and it has been years to recover from that debacle related to Rainey River and that struggle continues ,it has turned out to be a marginal operation .they had to sell thier jewel in the crown "Blackwater".So I have no idea why NGD threw away money into Harte .They dont have the resources to take over Harte.Silver lake does ,they have about 400 million in cash reserves in Aussie dollars.So one can't blame SVL for taking advantage of the situation "cash is king".BNP obviously didnt want to pour more money into Harte or operate its gold mine ,they just got out to an experienced operator like SVL who have lots of cash .What kind of discount SVL got is not yet known .
It's no use crabbing about the situation ,by buying the debt ,SVL controls Harte .Retail shareholders will likely get nothing ,I dont think SVL has any obligation to buy out the billion shares outstanding ,they may or may not ,I have no idea .Better to sell out ,take the tax loss and BUY Silver Lake .