RE:RE:Joe wants more than 120 million! For what?
San Dimas has book value around 250 Million in Q3 results! Even 150 Million for San Dimas would not leave much money left for Primero retail shareholder. 120 Million for the whole company perhaps with a share purchase or an exchange of shares would be an acceptable offer!
Primero has no future without San Dimas. I doubt that the sell of San Dimas for a bargain price could attract new buyers for Primero shares! The only chance for retail shareholder here to make money is:
1. Turn around the operation in San Dimas and remain as an operating miner. (Seems they are not even trying)
2. Sell the whole company for an acceptable price!
An empty Primero shell with a few million USD cash but an expensive board of directors and an expensive head office would be a bad deal for shareholder but perhaps a good deal for management!