Orko Silver Corp. (TSX: V.OK, Stock Forum) announced Tuesday afternoon that it has signed an agreement with Silver Standard Resources (TSX: T.SSO, Stock Forum) to acquire a 100% interest in the San Juan Property located near Orko Silver's La Preciosa project in Mexico.
Under the agreement, Silver Standard will transfer of the remaining 25% interest not currently controlled by Orko Silver for US$250,000, to be paid by the issuance of Orko Silver capital stock, each share having an attributed value of C$1.03.
"We are extremely pleased to have reached this agreement with Silver Standard to enhance and consolidate our property holding immediately west of La Preciosa. We believe that this acquisition will be of great benefit to Orko Silver shareholders," says Gary Cope, president of Orko.
Shares of Orko Silver were up 0.97% to $1.04 Tuesday.
On the Orko Bullboard Tuesday, evenpar said:
People selling on this news are not understanding the BIG picture !! Orko has now completed the last piece of the puzzle .... they now OWN 100% of ALL 3 PROPERTIES, Santa Monica, San Juan and La Preciosa !!! Like a smart property developer, they have assembled ALL of the properties into one landowner .... Orko Silver !! They are now free to negotiate with anybody on ALL 3 PROPERTIES without bringing anyone else to the negotiations ! This is what any potential suitor would want .... ALL 3 PROPERTIES ... ONE OWNER ... EASY TO NEGOTIATE TERMS !! I smell BIGGER and BETTER things COMING SOON !!![sic]
silvertrust added: “Very prudent move to acquire 100% control of San Juan. And now FULL control of 110,000 acres means GREAT upside potential. Timing of announcement just before MDA report I think is a calculated move. IMHO this is great news and to be expected sellers are taking some off the table[sic]”…
