vote NO to CRIMINAL THEFTbruce of vango wanted to steal all of sgi infrastructure for nothing 0%.
catalyst now wants to steal all of sgi infrastructure for a pittance of 22%.
it would be even less than 22% after catalyst financing.
both attempts are CRIMINAL THEFT.
even sgi selling shares by itself would be better than this massive dilution, but they should be able to get more gold loan if necessary because it is only a tiny amount of their production. the recent production update and video call says they are already cashflow positive with jan production, and be more profitable this year as grade increases.
sgi does not need this insane massive dilution.
all you shareholders better make sure to vote!
it will require the approval of at least 66 2/3% of the votes cast, 33 1/3% need to vote NO so there is still a chance to vote this down. don't be lazy, make sure to vote!
they will probably try to send out voting information late to cheat you from voting. contact your broker or sgi to get voting instructions, and make sure to vote on time.
in the ideal world, jordan expects the vote to be NO, and is just doing this to boost sgi share price, give it more exposure, and possibly start a bidding war for sgi assets. guyana gold that was running out of ore had a big mill that sold for over $300 mil after a bidding war.