RE:Back to the drawing board.i do not like the warrants. if vango got paid with all shares and no warrants and cyl is buying vango for a lot higher price than sgi, then why should sgi shareholders have to pay extra cash to exercise warrants? sgi is a lot more valuable than vango which has no mill and much fewer gold oz. why should sgi shareholders receive so much less?
if cyl price drops then those warrants can expire worthless, resulting in half those shares disappearing.
i like the idea of higher bid, but sgi does not need cyl+van, while they need sgi mill.
the best return for sgi shareholders is to have no merger at this time, and allow the tiny sgi market cap to realize its multi-bagger potential, especially with the far higher gold price this year 2023.
there is no rush to allow sgi to be STOLEN at 52-week low right after the year of hell. wait for the far higher gold price this year and new higher grade stopes to take effect, then can re-consider merger when sgi is at 52-week high.
ppp you sound like a new shareholder (or potential new shareholder) with ability to buy sgi shares at crazy low price and would vote NO to this merger as it stands. we need more people like you to buy sgi shares to add to the NO vote. you can consider new sgi shares bought like an arbitrage. at current cyl price of a$0.965, that converts to an sgi share price of 31.7c which is much higher than current sgi price of 25.5c.
and if the merger does not go through, you get a crazy low price for sgi shares with multi-bagger potential, especially with the current a$350 much higher gold price than last year.