Thanks, MIStragic for posting the Nordesmic update, I also value Nordesmic's work and agree there are some positive comments about SLR.
What I found revealing is that Nordesmic states on 2 to 3 occasions that "SLR is fully valued at the current level" this does not support some of the blue sky valuations that are being bandied about on the SLR thread, neither the comment SLR has bottomed out.
If Nordesmic is correct and I suspect he is this puts SLR's script offer for EGA at 26 cents, a long way from the 40c SLR originally valued EGA at and in my opinion less than half what EGA is worth in an all script offer.
As a general comment, most sharemarket investors are aware that takeovers usually occur at a premium to the market price usually around a 30% premium for cash offers and more when it is a script offer. Not at a major discount.
The current SLR offer is destined to fail as evidenced by the fact that there has not been a reported increase in holding for over 1 month from SLR.
I think most EGA shareholders are open to a deal, although as has been repeatedly stated it has to be at a realistic price.
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