RE:Why Would You Vote Against This Deal?just watch their latest video on jan production and 2023 to see the reason why.
https://youtu.be/FFqmaHvMkco?t=765 at the 12:45 mark he says
"as a general rule, break even is between 5300 and 5500 ounces. anything above that is free cash. we should also see margins improve in the second half as we access higher grade ore in the mine and gold remains above $1800 per oz."
jan. production was 5942 oz. that is above 5500 oz. sgi is already cashflow positive and generating free cash!
the recent us dollar going up drops the gold price, but that is offset by the aussie dollar going down and aussie gold price going up.
all their charts show sgi has already turned around, development and production is increasing. when grade goes up during 2023, production goes up more, costs go down, and free cash goes up. the reason cash balance went down was because there were a lot of one time charges last year which they have already paid down with their cash.
Why Would You Vote Against This Deal? 1) because sgi is already cashflow positive!
voting NO gives you 100% of the loaf instead of one tiny slice.
100% of tiny market cap gives multi-bagger potential.
2) even if you are in favor of the merger and want to vote yes, you should still vote NO because cyl will be forced to raise their bid from a paltry 22% or $50 mil. now that cyl bought vango, they will
need a big mill and infrastructure which would cost them at least $300 mil to build. buying sgi would be much cheaper + they would get multi-million oz gold from sgi for free. cyl can easily bid
much more than a tiny $50 mil.
don't listen to that bs artist camel who has brainwashed people on the ceo board like Petersburggray who was apologizing to camel making him out as a savior and saint. from day one camel has been trying to
steal all of sgi infrastructure for next to nothing, and he is still doing that now! he was trying to fool people that sgi would default to auramet, as if sgi cannot produce a tiny 5k oz over 18 months. camel is acting like the deal is already done and trying to convince (fool) sgi shareholders to be happy to accept next to nothing instead of voting NO to keep 100%.