The Deflector plant is 80k from Rothsay - are there any gold plants closer that would be interested in toll treating the Rothsay ore or be interested in making a counter offer for outright acquisition. I assume EGA's have already (unsuccessfully) pursued these options (?).
If SLR needs Rothsay oz's then thats a worry for SLR true believers. If its an opportunistic acquisition of a stranded asset then thats OK from an SLR shareholder perspective. How long can SLR stone wall ? The latest announcement indicated they have 30% acceptances. If the deal doesn't go ahead do these acceptances lapse and SLR's shareholding dramatically decrease ? If EGA is such a good deal for SLR why don't they throw a $40m cash offer on the table .... after all SLR its supposed to have $130m+ cash and be a guaranteed cash accumulator ??
A cash offer would be a weird form of a share buyback ? Or is SLR intend on achieving a billion shares on issue ?I hold SLR shares but remain unconvinced the company is a strong as Cool Hand intimates by his famous (non) communicative style.
