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4.35%

8.8¢ southern gold limited

Ann: Trading Halt, page-9

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Bazsa

732 Posts.

66

10/10/18

18:02

Post #: 36072789
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Originally posted by 1982 ↑

There is some good pedigree in the team, but a few washed up directors in billing and turvey. Chairman boulton is past his best some would say.
Mitchell is a go getter, but needs fresh help to free him up. He's been to london a few times, and has spruiked to asian HNW's for no return.
To be fair to him, he's kept the register tight for 3 years, lets just hope this one isnt overly dilutive. Financially we're on our knees, building the korean permits was the long game, but in hindsight was probably not the best game considering we needed cash flow. Cannon UG should have been handled better and gubong/kochang should have been worked harder to bring it online quicker.
Lets see what the terms are

Expand

Looking like 1.8mil @ 17 cents
Thats what I would call bridging finance till NST work out what they are doing with Canon or possibly a take over . Very slow progress by both Southern and Bluebird has left us all very much a target for a cheap walk in.
Let's hope that this changes and we start to see some gold and silver bars to organically grow this company as promised.
Best luck to all.

SAU Price at posting: 18.5¢ Sentiment: Hold Disclosure: Held
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