The Silver Standard DealHi all,
Have been investigating this Silver Standard question - here is what I have found so far. That the offering of PVG shares by Silver Standard will be 10 million, give or take. This is a deal that will pop up tomorrow - so we were asked to speak for some of the offering today - BUT there was no indication of what value for shares offered at this point (quite strange) - but logically it must be tied to market value...we just can't figure if that is today's value or what.
I see this as being a good thing (and good business). From the start (the prospectus), Silver Standard stated desire was to retain 30% of PVG...they are holding 40+%. Say they got those at 4-5 bucks...then it is good biz for them to cash out to a degree and sell those for 10-11 bucks. They will still hold their original intent (30%) - and have cash to do their own projects. At the same time, it brings 10 million more shares into the trading arena...with no further dilution (and available shares in PVG are tight) - so I see this as being good for the company overall. It also sets a pretty good floor for overall value.
Drill season is starting - the ducks are getting in a row. Good luck to all, as this is a good one.
el d