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4.35%

8.8¢ southern gold limited

Strategic Review?, page-10

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2,946 Posts.

33

23/10/18

17:16

Post #: 36228865
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Originally posted by MIStragic ↑

Is it time to start to question the future of SM - after all, he's been there for almost 4 years, and the company is teetering on the edge of insolvency.
If no money is forthcoming from Cannon, then what? The spectacular failure of the expensive WA team to find any bankable resources, along wth the dividend stunt, has made the company financially anaemic and in danger of collapse. What happens when BMV demands SAU cough up further development funds ? ..... If BMV have the personal capital resources we've been lead to believe they have, might they not make a low ball takeover of SAU and jettison the Australian operation completely ? Best case (as promoted by SM) is that the JV may produce some gold in 2019/2020 .....
Then what .... another 5 years before any big bang ... talk about moon shots .... yes its time for a strategic review. SM has completely captured SAU, and his shanghaied BOD are fully complicit. To say the BOD needs reform is to say that a rotting corpse should be buried .... but will it ?
Vote for change at the AGM.

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Anyone know when the AGM is?

SAU Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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