Good work GZ - nice to see that you and some others are out there working hard to secure a better deal for PRH shareholders. Beacause of the "no shop / no talk" provisions of the SOA it is really up to the shareholders to be active and those in the industry like yourself with many old contacts that can most effective.
There are quite a few significant mining people amongst PRH's shareholders so surely the word is getting around and there is plenty of time before the May deadline for something to happen.
I wonder if PRH management have ever at any stage approached the Shanghai Chamber of Commerce?
You would have to assume that SLR have already determined what their top offer would be for PRH and you would think it terribly unlikely that they would make that first up. Given the terrible time all small cap explorers are having out their to finance projects you would think SLR would make an "opportunistic" low pitch offer first up. The SOA includes a "matching and notification" right in the event of a competing proposal, so let's hope they have to use it and up the ante.
Now I am a realist and if the current offer truely represents fair value and no one else is prepared to put forward a better offer then good luck to SilverLake and I will be prepared to go for a ride with them (I wonder what the independent experts report will say????lol). However, I am still hopeful that someone will see the opportunities Phillips River presents in terms of established resources and opportunities for further exploration. Anyone have any idea how much it would cost in todays money to fund an equivalent exploration program that has elucidated the current Phillips River resource? In recent times I have heard of expert current valuations for Phillips River from 7.5 to 10 cents per share (pre-consolidation equiv. up to 80 cents post consolidation )so the 30 cents (equiv. SLR shares) seems a little low.
One last question GZ - is the L Davis who was a top 20 shareholder in the early days of Phillips River one and the same?
PRH Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
