to further expand on my last postThe common is trading around $14.50 so if the company wanted to tender for all of the shares to be issued to the contigent rights holders it could repurchase the 15.6M shares for approximately for approximately $225M or roughly the pre-tax profits it would derive from the reopened mine in one year and retain the roughly $800M it would earn in the next four years. One would certainly invest $200+M in exchange for a 5 year income stream of $200M per annum. BTW I am not suggesting that they will or for that matter should repurchase these shares but just illustrating how silly is the idea that they should wait to reopen the mine until the rights have been extinguished.
BTW would anyone want to suggest how much the common would increase if the company were to announce that it would be reopening the mine and approximately doubling its annual silver production. I would think it would result in a very nice gain of at least 20% and maybe a lot more.
I wish the company would give an update on the status of the negotiations which I think have been in progress for at least the past 6 months.