Ann: Perseus announces intention to make takeover bid for OreCorp, page-31

I have been a long term holder of Perseus....and was vocal that this would not get over 2 cad without a takeout merger...so i sold in a recent run up to 1.75 cad ( 2.20 aus).....I sold purely on technical terms - did not see the sudan mess coming. I bought back in 40 cents lower because , i like how JQ runs the development projects and the free cash flow. I have reviewed this orecorp deal and wonder what the hell JQ is playing at. This is Clearly inferior to the one on the table and as a Perseus shareholder I think this is a waste of time and energy ( unless they are stalling for time to do further DD on the project. I will list my points.
1) why would orecorp shareholders want no upside on their current - so share for share exchange is a must. ( you can sell your shares at this price today if you just want out. no need to wait for an offer to go through blue sky
2)silver corp is giving shares and cash....what orecorp was looking for
3)silvercorp has better diversification. and frankly has a progressive and presentable management team ( so i see little downside risk)
4) Perseus brings the benefit of their African experience and resources to the table...good from perseus side.....but means fc all to exiting shareholders....so is a moot point for Orecorp board.

If I was on the board of Perseus- i would guide JQ to
1) get serious and put forward a winning share for share with cash sweetener or

2) negotiate to liquidate your interest with sls and move on. Use the proceeds to buy back your own shares.

Silvercorp have been successful in building mines in china.....but not africa....this is a stretch for them unless their Chinese connections are keen to move to Tanzania!

This is a cycle waster if the board is clearly NOT on your side.
Biker