I just saw this one come up on the day lows. Seems like the company is living on debt- just cashed in a convertible note. I had thought SHK might become a target of the voracious LionGold, but LG has put out a statement saying they are in "consolidation" mode, and it seems like their appetite for distressed Aussie goldies has waned- they cancelled the NAV buy out, and the BSM placement. So, SHK goes back to being a distressed goldy, but perhaps not a takeover target.
Dunno how it is going to go for this one. The con note holder probably hopes for a pump at some time, as is customary with these types of things. Either that, or they just get to keep the company, given they have a mortgage over it.
Good luck to holders.
SHK Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
