The way the article is written suggests it is another miner wanting to buy more of SPR. If that turns out to be correct then the SP is unlikely to remain where it is and may stay at or above 89c. In addition the SP will most likely remain elevated as stocks always do when they have a potential TO lurking around the corner (this happened to AZS and LTR).
The buyer may not achieve the target of 10% if it is another miner which would only push the SP above 90c. Such a result would really up the speculation on next steps of the bidder and increase the SPR SP.
I did note from the article that fund managers were meet with silence when they asked who the buyer was - hint hint another gold miner!
All speculation on my part. The games have only just started.
BTW - SL will know who the buyer is as they have 4.75% - maybe his European trip was to sure up support for SPR - ie get them not to sell - again all speculation. Then there are other possibilities eg to meet with the potential bidder, etc.
No idea why a fund manager would accept less than 89c.
SPR Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
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