Well we got that wrong with predictions of PRU coming in with new takeover offer and fireworks to happen this week. It has been a fizzog. No Bidder or Target Statements forthcoming either, though timetable was indicative.
3 January 2024 - Commencement of despatch of Bidder’s Statement and commencement of Offer Period 5 January 2024 - Completion of despatch of Bidder’s Statement 4 January 2024 - OreCorp lodges with ASIC, and provides to Silvercorp and ASX, a copy of the Target’s Statement 9 January 2024 - Completion of despatch of Target’s Statement
On another note I personally like the idea of cash and script as I believe this project will give returns in the multiples in the future (2025 is only a year away) with such good operators, whether its SVM or PRU. But as a few others have said I would prefer any script, if SVM is successful for it to be listed on the ASX. They have said they continue to explore this option. My wish though that they would increase their script offer of 1 for ~10 to something more attractive for us shareholders. Current offer is grossly undervalued in my opinion. Broker reports just before SVM's initial offer, valued us at around the 80c (risked) and around $2 (unrisked) from memory. SInce then gold is sitting over $2,000/ounce, SVM have already indentified cost savings on our already low AISC, financing pretty much assured now and so much potential on the surrounding ground to extend resource.
Lets hope next week we get positive action happening.
ORR Price at posting:
55.8¢ Sentiment: Hold Disclosure: Held
