60/40 is extremely generous. I would have thought 1 for 8 or about a 65/35 split would have been the mark. Maybe the extra premium will guarantee the merger goes through
To be honest I was hoping we'd be on the receiving end of some consolidation somewhere along the line. I guess we just have to be happy that we've got a strong company which theoretically should become even stronger. The SLR board will stay as it is. That's a plus. No IGR directors will be offered a seat. Looks like Chris Cairns will revert to an exploration management role which is his bread and butter
Effectively IGR holders have been handed a double bonus. The 27% rise in share price today plus the upside of the new SLR. Whereas SLR have copped an 8% haircut today and will now equally share the upside with the IGR holders
I feel SLR would be better off going it alone but maybe that prized 1.8Mt stockpile of IGR's will help catapult us up the ranks a lot sooner than we think
Cheers
SLR Price at posting:
$2.60 Sentiment: Buy Disclosure: Held
