NYSEAM:SVLC - Post by User
Comment by
ch08532on Jul 27, 2015 10:42am
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Post# 23962667
RE:congrats to Keith Neumeyer!
RE:congrats to Keith Neumeyer!The deal is done...I've been through this before a few times. Sprott and other investors will approve of the deal.
Bottom line is Silvercrest investors got robbed...plain and simple. I had a feeling this was going to happen. A company with 30 million in cash and solid cash flow for the next 2 years won't sit this long trading near .6 to book value. The company sold at book value before the big drop in Silver prices happened a month ago. Why sell now?? That's where it doesn' t make sense. These guys finished a 2 year growth phase and sold for pennies. Absolute foolishness. First Majestic needed cash and they got 30 million PLUS a producing mine generating an average ~4M Silver eq oz for the next several years at 12-13 ASIC PLUS increased resources from La Joya.
All this for 32 Million in shares. This is perfect robbery.
As for the "New Silvercrest". This is a penny stock and will get dumped on day one of trading. I guess management can focus on Goldsource mines full time now that Eagle Mountain will go into production by end of year.
As a past First Majestic shareholder, I'm happy with the deal. If you believe the market will turn this is a great time to buy shares in FR.