Need to add Heron Resources to the list of other mining/exploration companies that might be taking a closer look.
Heron are cashed up ($40m - which incidently is about equal to their market cap), WA based, no current mining project and full of explorationists.
How would PRH shareholders perceive a superior offer from Heron. Perhaps a part cash / part share based offer which would leave Heron still with cash to work with and gain a wider shareholder base who I believe would be very supportive.
So with Mincor and Independence (via Jabiru holdings) already having an interest in PRH we may see another suitor other than SLR appear eventually.
I notice a lot more activity in PRH shares this morning. Could we be seeing some jockying for critical votes. I would suggest PRH shareholders hold tight for a while - you have plenty of time and you need to let this one play out a bit further.
PRH Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
