RE:RE:RE:The question now is peasoupfog wrote: After a voted rejection, Rather than drop out of the running, BTO could just increase their bid to say, 0.5143 rather than 0.3867 which represents a 33% increase in bid value.
Never fear, a new bid is coming, either from BTO or a new suitor! IMHO
Like I've stated previously, I think it's very likely that there will be no superior offer from another suitor, the vote is 80%+ in favour of the BTO offer, and the deal closes as is.
In the highly unlikely event that SBB shareholders don't hit the 66.67% threshold needed to approve the deal, SBB's share price will drop - likely by double digits, as I think the market suspects that SBB going it alone at Goose Mine is a recpie for disaster, and thus the sale to BTO. Try reading between the lines of what Bruce McLeod stated in the SBB press release announcing the takeover::
The execution of the Goose project by Sabina did not come without risk to Sabina as a single asset, junior development company with capital constraints. With a two-year construction period until first gold production, we believe that additional value can be unlocked by participating as shareholders of a major gold producer with the northern experience and financial resources to optimize the Goose project and this prolific belt.
I take this to mean that SBB is concerned they may have bitten off more than they can chew in trying to bring Goose to first pour by themselves without taking seriously the likelihood that more money and/or delays may be in their future, which would certainly cause the share price to take a hit each time more money is needed or a snag causes a delay to first pour.
I don't think some on this BB realize the likley negative implications of a No vote in the BTO offer. The way I see it, BTO saved your behinds, and for those who purchased SBB shares at higher than $2.00 in those two short windows (July 2017 - January 2018 or July 2020 - March 2021), nice job in buying high. Gold stocks are trades in my book - not buy and hold investments, and it appears as though some in here bought SBB at premium purchase prices.
Thank God for BTO for at least cutting your losses with SBB and its 560M shares outstanding and $1.1B market cap for a company that hasn't even started its mill and mine build yet.