Ann: Change in substantial holding from SLR, page-5

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Davisite

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30/08/19

12:00

Post #: 40240876
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Originally posted by eastwest101 ↑

So 3 days to go from 16.2% to 17.5% shareholding - not exactly setting any records. So assuming they have been gobbling up anything on market up to 33 cents is this normal of a bit slower than other all-scrip T/O offers? Its early days yet so maybe too early to judge?

Is it because this is a scrip offer, and not cash, so there isn't the sense of urgency that a cash offer brings? Or is it that shareholders are sitting back waiting/expecting that a better or superior offer might be made? Interesting.

Am I missing something in that if the EGA share price is trading below say 27.5c then with SLR trading at $1.03 isn't that a cheap entry point to be buying SLR shares?

Looks like SLR and EGA, and most other ASX listed goldies down at the moment but EGA down a fair bit more than some.

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This is because EGA got locked to SLR's SP right at the top of their hype run pre the last 4C. When it turned out that SLR wasn't a $1.60 company down went EGA too.

There is no rush for anyone to accept this offer and you would have to be off your rocker to do so. Let's say that SLR manages to pick up a minority position in EGA what are they going to do? They will put into practice their plan of toll treating the Rothsay ore at Deflector. No independent director could support this being done at anything other than at commercial terms which would have to be worth far more to the EGA shareholders than the current scrip offer from SLR.

EGA Price at posting: 28.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

2 Great analysis

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