Yes SunburntLand it will be a terrific deal for you if you have...

Yes SunburntLand it will be a terrific deal for you if you have the numbers. It is going to be a big help in that respect that our management is prepared to "give" SLR up to a 16% holding in PRH via the convertible notes deal.

The scheme of arrangement needed 70% of shareholder acceptance and I think Jason & Les did the count and found out it would not get up. Hence the withdrawal and the new asset deal which will only require a majority vote...16% is a good start.I have a strange feeling that the Offtake Agreement excuse has been a bit of a furphy!

Economically though the merger made better sense because of the potential tax benefits so on balance I reckon Les has made a bit of a mistake. I think if the original deal was just a little bit sweeter (something nearer the shareprice when the conversion was done last year - in the 40cent vicinity) the merger would have saled through.

Anyway good luck to you - it is the only offer on the table but still hoping some key long time associates and supporters of TTR/PRH (who have the means) can broker a better offer for shareholders. Ravensthorpe's Phillips River has too much going for it to give it up so easily.
The conditions associated with the deal which will require immediate repayment of the Convertible Notes (if the vote is against)is like a noose around the shareholders necks. So the shareholders will want to have something alternative in place by the time of the vote....and a replacement board and funds ready to go.

or will there be an alternative offer pop up out of the blue......."First Quantum, Mincor, Independence etc are you out there???" PLEASE!