Post by
ch08532 on Jul 27, 2015 8:04am
We just got sold out at 1.30! Sad day for long shareholders.
FIRST MAJESTIC ANNOUNCES FRIENDLY ACQUISITION OF SILVERCREST MINES
https://www.silvercrestmines.com/news/index.php?&content_id=233
Comment by
ch08532 on Jul 27, 2015 8:11am
This is my second takeover by FR. (my first was Silvermex). This buyout won't save me from my 50% loss but it's going to a great home. Definitely good pickup by First Majestic and smoking deal IMHO. Silvercrest should have sold years ago now selling at the bottom of the market!!!!
Comment by
hemi3tc on Jul 27, 2015 10:08am
There seems to be no value in the Takeover price from New Silvercrest.? It should be worth at least Cash value of ~ $5.25 Million / (119 M shares * .2769) = $.15 more if the properties are worth anything. So total value would be $1.30 + $.15 = $1.45
Comment by
chrisamanor on Jul 27, 2015 10:16am
Would settle for $1.45 and be out faster than a rat up a drainpipe!
Comment by
ch08532 on Jul 27, 2015 10:24am
It appears that way. Cruz de Mayo is part of the asset list which recently was written off by the company. La Luz seems to be small as well. Don't know anything about the other properties. This looks like an opportunity to dump some weak assets into the market.
Comment by
netgenx on Jul 27, 2015 6:13pm
Well, actually it's $.15 + whatever the fractional value of the FR shares is when the deal goes through, which today is $1.07 and heading south... Total B.S. -