and so it begins, page-46

"If Silvergate/ASI is so wealthy and interested in Hawsons, why has it not simply acquired a 40% stake in the project directly from the liquidator of BMG?"

I think the reason why Silvergate/ASI has not purchased BMG's interest from the liquidator is because the sale process has not yet been completed.

From memory (but read past posts for actual dates) BMG's JV interest was advertised on minesonline.com and expressions of interests closed end of September. From there the liquidator would need to evaluate and qualify interested persons and those interested may want some more info and possibly have one or two rounds of formal offers. I wouldn't be surprised if that took two months from the end of September to complete. Plus, I think CAP has first right of refusal so it would need to be offered to CAP at whatever price the highest bid is and then CAP would have a period to accept or reject (on a side point, that may be the reason for the request for CAP to be able to issue more shares).

I'm hoping we will get an outcome of the sale of BMG's interest before Christmas.