SilvercorpSilvercorp has some really rich mines with many ounces of silver and pounds of lead and zinc.
If you scroll down to about the middle of their last earnings report, you'll see that some of their production costs per mine are less than zero dollars per ounce of silver, when you net out the value of the lead and zinc they produced.
Production
Costs per
Ounce of
Silver,
adjusted for
by-product
credits (2.86) 1.13 8.75 6.33 (1.25) (9.65) (17.12) (10.15)
Last earnings report : https://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn_newsreleases.asp%3Fsymbol%3DT.SVM%26newsid%3D7317027
Not many companies are that fortunate!
Even your own management just sold shares privately for only 60 cents.back in March. Your company seriously lacks the finances to get that mine up and running. Silvercorp has lots of cash to get the Fire Creek project going.
One way to look at the offer is to think of it as the ability to own Silvercorp shares at 60% of their cost if you had bought them Friday, just by trading your shares, because of the appreciation of your shares Monday.
Anyways, good luck with your investment.
Rich