GREY:LRCPF - Post by User
Post by
Wonton1on Feb 05, 2019 10:31pm
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Post# 29324106
Re merger?
Re merger? The math ?
Sunm has 90m shares after Teck pp.
warrants + options - about 30m
so 120m fully diluted
add 40m for LLC
to 160m shares
Now there should be some cash generated by all the warrants but
this project and people behind it drill a lot - PGM drilled $25- $30m worth
so the next steps are unknown what Sunm does but what could happen?
how about one or two more pp maybe 50m shares ?
now 210m
so LLC in this scenario ends up with 19% no NSR no property. Maybe the proposed deal is just easier for LLC management to deal with. Having control of such a large block of Sunm would definitely be some kind of control position - and conflict with common directors.
The combined company would be an easier simpler buyout by a major.
Will be very interesting how the fairness judges view it
Noodles today