I'm voting against the takeover. Why would anyone vote for it?...

I'm voting against the takeover.

Why would anyone vote for it?

They stated at the announcement, an implied value for ORR of $262 million, via 15 cents per share return and scrip.

The current market cap of ORR is $210 million.

The "Independent (hic)" assessment said the takeover was Reasonable (R) and Fair (F) to ORR shareholders - well ..... that is a load of bull.

Firstly, the so-called "Independent" assessors are "not independent", they are paid to produce what the directors want.

Secondly, if Silvercorp are prepared to offer a value for ORR of $262 million, then the ONLY Reasonable (R) and Fair (F) takeover offer that the so-called "independent" assessors should have declared was 60 cents cash per share, and preferably more.

Why would anyone vote for the takeover?

Why would anyone vote for anything "other than" 60 cents cash per share, or more?

Any ORR shareholder should really be looking to 80 cents plus in CASH as a fair deal.

The other problem refers to the historical values of Silver on the TSX, it's always been higher (in relative terms) than on the ASX. Silver producers are more highly valued in Canada than Australia, and particularly Chinese producers, because of the sometimes rocky Australia-China relationship.

My bet is that IF Silvercorp lists on the ASX, and that is definitely no certainty, then their share price will fall significantly, and they may have to do what they're currently doing in Canada on the TSX, and buy 5% of their own shares in order to try and control their share price and keep it from falling too drastically.

I'm voting against the takeover, because it's not a reasonable price, and it's not a fair deal, in my opinion, and I think any future share price decline of Silvercorp CDI's on the ASX will validate this opinion.

Silver producers are not well treated on the ASX, neither are producers with mines inside China.

If the CDI's fall, so then will the TSX share value, which is probably one reason why they are trying to take out some insurance ahead of the time by buying back 5% of their own shares, they see what might be potentially coming in the future.

I want 80 cents in cash for my shares, and everyone should.

If the current board want to sell-out and cut-and-run, then just replace them with mine builders.

Gw