The way I see it3 Aug 2016 14:16
The company failed to get a joint venture to exploit their 600 million ounces plus gold deposit. Previous board left and G Clarke & partner subscribed for shares to keep the company afloat. There was early talk of a reverse takeover (as I understand where SMA bid for someone else, who is not currently listed). Their management would then takeover. Obviously if the new co has history in gold mining they would probably want to develop the resource, but if not either this new man will have to dispose of the gold asset to buy the new co, or issue a lot of paper and let the new co dispose of it. However Mr Sparrow is effectively on commission with 22 million shares so There maybe something a lot more spectacular on the cards.