I’m not sure the premium in the Orca deal can be applied here in the exact same fashion. Given a decent chunk of shareholders were likely to accept ~60c from Silvercorp, it seems unlikely Perseus is going to suddenly put in an offer so much higher. Part of the premium they have is their scrip is a far superior currency to Silvercorp scrip.
Still I don’t think Perseus are here to muck around over a few cents. 70c offer wouldn’t surprise me at all. It’s also good to have some heavy hitters on the register of Orecorp like Nick Giorgetta, who presumably can extract some more value for all.
ORR Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
