gpl ‘takeover’, page-21

Well...
after reading all the information I can regarding Great Panther.
They have 2 operating mine, that last year made a loss! Their forecast AISC for 2019 is US $13-15 per ounce! THey might make $1 per ounce of silver, or.... US $3-4m for the entire year!



They had US $57m of cash as of September, 2018 (but I am quite confident they will have less than that now!) and some other assets which are worth very little. Great Panthers revenue is much much smaller than BDRs!
They are without doubt getting BDR for peanuts and I am very very confused as to why the Board still think that the offer is anything other than a poor one.

I also find the timing of the two meetings very suspicious. Great Panther has not reported the Dec quarter earnings and I bet they are terrible!
Unlike BDR, who did very well considering they were finishing the upgrade and still integrating the new contractor. Plus of course the Grid upgrades are ongoing.

BDR has a current mine life of 8-10 years!

I really do wish I could be at the meeting, they need 50% of votes from those present to pass, plus 75% of all shares.