So PLS ends up with ~ 2.9B shares on issue and a pro rata MC as of today @ $1.18 B
No question it's a cheap T/O but you still have to pay for it and PLS shareholders now face their earnings being divided by 2.9B
GXY is uniquely positioned and unless they want to outbid PLS it's well worth staying on the sidelines
$175M US is better off being invested into SDV surely and James Bay, being strategically located in North America will only become more and more desirable
GXY Price at posting:
$1.32 Sentiment: None Disclosure: Held
