Santacruz Silver Mining Ltd V.SCZ

The most recent halt was 7-2020 which announced the

[CountOfMeltedCrisco]

Zimapan acquisition, so this halt should be of similar impact, whatever it involves.  From the T&S logs on both sides of the 49th the past week, it appears The Usual Suspects got word of whatever is coming.

[VoxContrary]

apparently, they are buying Zinc mines in Bolivia: https://www.glencore.com/media-and-insights/news/proposed-sale-of-glencores-bolivian-zinc-assets

[MacRellen]

Posted on ceo.ca a couple of hours back: https://www.glencore.com/media-and-insights/news/proposed-sale-of-glencores-bolivian-zinc-assets

[CountOfMeltedCrisco]

Very interesting, and a great find.   Glencore's problems are mounting, and they may be divesting what are otherwise excellent assets but not what they consider their "core" properties.   And, there appears to be a zinc shortage looming on the horizon.

[wanderer9641]

100M MC and pulling off this big a grab.  They have guts.

[VoxContrary]

I hope you are right. However, this appears to be a very large deviation from their long term strategy to become a "mid-tier silver producer." Questions 1. where will the $20 MM come from?  More dilution? 2. how much cash flow do these properties generate? 3. can leadership handle the additional work load? I'm usually wrong, but I can't see the per share price going up

[MacRellen]

Good questions. And I hope they have good connections in Bolivia, as it's not a very safe place to be a miner. Glencore has had 3 assets there nationalized by the Bolivian government in 2007 and 2012. And it ranks in the bottom 10 of 77 mining jurisdictions evaluated by The Fraser Institute for 2020. I hope management has some good answers.

[wanderer9641]

More questions - location, size, grade, infrastructure, how long to production, what is the makeup of the ore. Any issues locally, all this needs to be known. Plus more.

[CountOfMeltedCrisco]

If you have this little confidence in management's ability to do Due Diligence, why are you a Shareholder? 

[wanderer9641]

Because I also do my own Due Diligence. These are simple questions to answer and I hope management will show how good their own Due Diligence was in making a deal of this magnitude. My investment is already made and I will look after it as well as management does.