LRC directors are not allowed to solicit another bid, but that does not stop another bidder from appearing. KCN have no min acceptance so it is possible some may hold their shares with KCN having control but it would remain listed as a separate entity, with KCN likely to make another offer at a later date to get the 100%.
considereing LRC only started drilling a year ago it is an easy "take the money and run" for the directors.
since most of the resource is actually Silver, it is not in the category of other gold resources, so that is why it is cheap. a lot depends on the extraction costs for silver, and KCN knows all about that as the silver has paid for their gold extraction costs over the years and they have improved their concentrations considerably over the years.
LRC Price at posting:
$2.38 Sentiment: None Disclosure: Not Held
