Timing is everything... Seems like First Majestic (FR) has the perfect timing. With the markets jittery and what looks to be a spiralling downtrend the hit on silver is putting selling pressure on FR shares and since SLX share price is now joined at the hip with FR sp it should help keep the deal price below .60 unless of course there is a turn around in the markets and especially silver, that would be one consolation here and get the deal price moving north. Problem is timing does not bode well for us short term, good news is we have a few months for the markets and silver to make an about face so something to contemplate. The other good news is finally after years of waiting, SLX sp is finally going to move with the price of Silver... thanks FR for that at least.
If SLX pulled out of the deal I speculate the only reason would be for a better offer so the $6MM termination fee is a moot point, these deals always come with some sort of termination fee and most of these deals almost always go through unless a rival comes along and starts a bidding war. Well, the price is cheap enough I suppose there may be a possibility of that.
So, for the poster who asked 'what can we do' here it is your answer... go out there and sell SLX to every other silver major out there, call, email, knock on doors and pitch them to come to our rescue with a better offer. In my opinion that is the only way to make this a better deal for us.
M