re: Ann: Proposed Merger with Silver Lake Res...
groundzero
Look on the positive side - PRH's share price has already risen 35% to 27 cents on the back of this announcement.
PRH must be near to bankrupt or SLR would not have needed to lend it money to keep it alive. Without that money PRH may have been in contravention of the listing rules and been delisted from the ASX, besides having to face bankruptcy court.
Even if they are not doing any exploration it still costs real bucks to keep feeding the management, the lawyers and accountants each year.
Come on - in about 4 years SLR's share price could be over $10 and PRH shareholders will be well ahead on their investment even if they entered near its peak.
Or would PRH shareholders rather see 3,000,000,0000 shares issued and a share price of 0.03 cents when PRH finally goes into production alone (liker NAV, AXM etc).
And do you really think that PRH's management has the skill set to successfully develop and run a mine profitably? We all know that Lord Les and the knights at his Round Table can do it very well.
OK then let PRH go bankrupt and have your assets picked up by Lord Les for $3-5m. SLR would save on shareholder dilution.
loki
PRH Price at posting:
1.7¢ Sentiment: Hold Disclosure: Not Held
