San Gold is obviously in a worse state
I am not sure how one would assume that sangold is in worse shape than Kerr Mines. Did Kerr not have a share price of $.02 and a billion shares on the books. A company at $.02 was probably close to turning the lights out.I believe I read that their shaft was flooded and other than a high grade deposit they possessed little more. A two cent share price tells me they were probably unable to raise any money. In fact I think Greg had mentioned that the developement underground at Kerr was a disaster that would need fixing. IMHO this whole amalgamation is merely the first step in stealing the assetts at the SanAntonio from the many long term shareholders that have stubbornly refused to sell. Was net assett value considered in the amalgamation or was it merely contrived using the capitalization.