You would think that a merger still should have been SLR's...

You would think that a merger still should have been SLR's preferred option. It was pointed out to me recently that a merger would have carried forward very significant and valuable tax losses but an asset purchase has none of that advantage for SLR.

I really find this all very confusing!!!!!!!

Can anyone explain the logic of SLR pulling out of a merger because of the problematical offtake agreement.

Also another thought - Howmuch would it take to buy out of the offtake agreement??? Or can't PRH purchase options for the lead and zinc which are pretty cheap at the moment to deliver to LN metals in due course. By all reports Zinc is looking pretty good for 2013 so this could be a way out that might even turn a profit. I don't know enough about metals trading if this is a viable option but you would think that there would be some sort of negotiable settlement could be reached. Is the "simplistic" equation not - you by X tonnes at $Y and deliver X tonnes and get $Y (+ or - price movement) back. Maybe even buy it from LN metals at todays option price and sell it back to them and all it would cost is the trading cost and margins on the options deals. lol.