full disclosure I’m a Svm shareholder that doesn’t want Orr to accept.
with that out of the way why would you assume that? Most Orr shareholders didn’t tender by the last count. Pru has zero incentive to increase their bid because you are trapped with one bid. Pru can wait as long as is necessary and as time goes on those in Orr for the arb trade will start to sell. Eventually you’ll settle for 0.58 to Pru because it’ll be a lot higher than your share price. If you lot actually wanted Pru to up their offer you needed to tender to Svm.
in any case I’m pleased that Svm will not dilute here (nothing against your project, I just see more upside staying pure silver without dilution) and will likely walk away with a tidy profit on its shares when Pru takes over for 0.58 assuming shareholders are smart enough to realize the writing is on the wall after Svm walks.
ORR Price at posting:
58.0¢ Sentiment: None Disclosure: Not Held
