"Roboshan - your analogy is good except the old owner's bank account is now owned by the new owner, so spending money on the pool is costing the new owner, not you. Assuming the merger/takeover goes ahead and all that."
Correct ButcherBoy it is probably in reality being paid from the convertable notes cash advance. However, was the new aquisition considered when the initial offer to PRH shareholders constructed. Should not the SLR offer now increase by the value of the new aquisition. It is all a matter of the timing of the deal and without inside knowledge of that who knows. All I know is if the deal falls over it will still be PRH money that pays for it. And why should the directors be currently spending PRH shareholders money on aquisitions when they already have plenty of higher priority drilling targets.
There is gathering momentum amongst PRH shareholders behind the scenes that suggests the current deal will have some significant opposition.
PRH Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
