A heck of a lot would have to go right for PRH for its shareholders to get good value out of its tenements if it went it alone.
Finding good management that can actually deliver is not easy - managerial talent in the mining sector is thin on the ground because this is a boom period and preceded by a 15 year famine when the mining sector did not attract a lot of fresh young blood. Look at all the failures out there in Australia - KZL, BSM, AXM, NMG (in terms of what it has promised and not deliver), OZL (spending big on AGM and almost going under), PNA, NAV, VRE, MON, BDG, CGT, etc
Also, how much shareholder dilution would be needed to fund the development of the PRH tenements?
And PRH shareholders will be able to benefits from SLR tenements and mines (gold and copper).
Who is to say that PRH will be able to develop its gold deposit and mine it profitably?
It may be just pie in the sky stuff for PRH going it alone, and some other party will be able to pick up its remaining assets on the cheap once it goes under.
Al least with SLR there would not any further dilution with development funded out of profits and a growth profile for the next 4 years that should enable PRH shareholders to recover their past loses.
Blaming Lord Les and SLR is absurd. Without his offer and financial support PRH would now be trading under 10 cents, and probably be insolvent. Just imagine the carnage to PRH's share price in the current market where non-performers are driven down to unheard of levels. This will continue during the sell in May and go away season.
But some people want to blame others for missing out on an imaginary supposed bonanza so keep blaming SLR if you must.
loki
PRH Price at posting:
1.8¢ Sentiment: Hold Disclosure: Not Held
