No risk deal for SLR. In a bidding war they could place a bid that would underwrite/ clear all debts at face value, including the debt they purchased at less then face value. If someone comes in over the top, SLR has the option to let them purchase the going concern, and SLR would then make a capital gain on the debt they purchased at less than face value.
So any entity other than SLR has to pay more for the Harte Gold assets. As SLR can structure a bid to ensure that at a minimum they get paid out at face value.
SLR Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
