What does this move in Silver mean for the TO attempt by DPM? Please let me know your thoughts.
I will start;
• Exposes the significant undervaluation in the offer price.
• Further exposes the pathetic lack of foresight in our Board and management. Further compounded by reaching commercial production. This scenario is what holders have invested in Adriatic for! The years ahead could be very profitable for us.
• May coalesce shareholders into rejecting the bid as the reality of the potential ahead is solidified in the movement of the silver price.
• It may be the catalyst for another suitor to act.
• Force DPM to increase its own bid.
If DPM becomes a major holder but can not attain the necessary percentage for a full TO I feel that ADT will be better off going forward than coming under the banner of DPM.
ADT Price at posting:
$5.78 Sentiment: Buy Disclosure: Held
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