Harte news releaseThe current news release from Harte makes it quite clear that there is no value in the equity shares of the company .Translation, the shares are worth Zero.
500,000 shares at 2 cents equals 10,000$ Canadian .
One would imagine the extension granted by Silver Lake which is for only a week ,is to allow negotiations to proceed with Appian to buy them out (presumably at a discount) .
This strategic review process has been going on for months without any offers until Silver lake came along .
It would also seem likely that they will make some kind of buyout of some of the existing management and keep the best people to operate the mine .
It wouldn't surprise me if they dont make some kind of offer for the worthless equity shares ,if it was 2 cents that would be 20 million ,if it was 2.5 cents that would be 25 million .
The extremely short time frame of the extension means that things will likely be resolved one way or the other in a week .
To repeat Blackrock is backing Silver Lake by buying shares ,it has had nothing to do with Harte ,indeed its self interest is for the takeover of the Harte mine by Silver lake to proceed.