RE:RE:RE:RE:brilliant move setting up contingenciesThe only question to answer is why have an additional loan (being a high interest bridging loan) burden with Auramet if you are cash flow positive? Why not request an inmmediate cash postion (at least to February) and future quarterly cash requirements from your BOD? Re other matters do your own research, particularily termination fee as you seem to know everything.
Invest regardless of putting up with your derogatory posts I do feel for Tannin , PB and others that have invested good sums of money mainly for retirement into SGI.I do firmly believe that you guys have not been told the whole truth by your BOD of the true state of affairs of Billabong. Living in OZ/NZ and knowing the Marymia area for over 20 years helps me make this sound judgement call. Regardless I hope my opinions are all wrong so I can apologise (yes to you as well) for reading the tea leaves incorrectly. As you know I dont care if the no's or yes's get up. IF the yes's get up we can have a smooth orderly transition to the new order of things with a well financed company with expert mining personnel. The no's get up then SGI willl be IMO in voluntary adminstration within 6 months or less. CYL have 100% support and backing of BOD's, Major Shareholders and Major Creditiors (including Auramet). SGI needs bridging finance just for working capital. Furthermore , If the no's get up there is no succession plan that I am aware of to replace BOD's, Management, Finance and Creditors arrangments. But I repeat If SGI is cash flow postive why isnt the BOD singing from the roof tops? Why if SGI is valued at more than (according ot you) $40m there have been no other offers? So I repeat for the sake of Tannin and others I hope I am wrong but lets put the derogatory comments aside and wait for the 12 May to re engage with hopefuly by then some civil dialogue.