Esperanza Resources Corp V.EPZ

(((NEWS)))

[Mineshack]

Silver Standard Consolidates the San Luis Project

https://ir.silverstandard.com/releasedetail.cfm?ReleaseID=553334

Under the terms of the agreement, Silver Standard will acquire Esperanza's interest in the San Luis project for C$17 million in cash, the transfer to Esperanza of the 6.459 million shares of Esperanza currently held by Silver Standard, and a 1% net smelter return royalty.




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[HonestAbe]

Looks like EPZ finally caved in and sold their minority interest in the silver play.  Rick Rule previously trumpeted the merits of EPZ as a potential takeover.  Now I wonder if that is the reason why he dumped a chunk of his shares since the takeover play by Silver Standard is now over..I'm also curious if the 6.459M shares of EPZ to be given back to them will be cancelled and

[Mineshack]

Honestly Abe, Rick Rule hasn't "dumped" any shares. https://www.sprott.com/Docs/PressReleases/2011/Global_Resources_Agreement.pdf * mineshack * *

[GACAB]

Yes they will be cancelled, see the news release I posted (represents 11% of the float).

[Harmony2]

and that will do what to the value of the shares?

[GACAB]

Per the news release " The cancellation of the Esperanza stock could remove up to approximately 11 percent of the outstanding shares and result in agreater asset value per remaining share"