re: Ann: Silver Lake to acquire Phillips Rive...
If you read Les's presentation in NY, you will see he put Trilogy assets development right down the bottom of his priority list. I can see SLR is in no loss situation, SLR pay roughly $10m(SLR shares) for the $1m gold resource, which $10 per ounce(cheaper to buy than explore), if LN pay hardball again, SLR will simply walk, they don't want that asset anyway. The trouble for PRH holders will be, without SLR buying Trilogy asset, the company is worhtless after the Sale of gold related assets to SLR. So the price for PRH reflect the risk premium on the deal. If you pay 21 cents for PRH, you will get 16 cents worth of SLR share, your 5 cents will be for speculating that the deal with LN Metal will go through and get 12.5 cents, so the market is pricing in less than half the chance of LN will agree on the new offtake agreement.
SLR Price at posting:
$3.41 Sentiment: LT Buy Disclosure: Held
