if the orko shareholders want for to taking the cash of the 2.60 dallars per share, vs the paper shares of the shatty cde, then the cde no having no money left for to buyback none of the shares, and then they also having the no money for the capex required to develop new mine. So what do you think they doing then??? Oh I have no idea, but just hunch maybe they make offering of more of the cde shares in big dilutionary deal. they having BOD approval for to offer almost twice the shares they having out now. So they do first 10 to one reverse split, then double the number of the shares, so really we heading for having the 20 times the number of shares that we use to. This stock will head for 10 dallars, which is like .50 cents compared to the old share valuation. So lets see here when silver was 6.70, the cde share price was 7.60, now we heading for 35 dallar silver and then share price heading to .50 cents. So let me see if I can gettting the maths right but silver go up 460% and the shares of CDE go down 1520%. This very great story of accomplishment for the managment taking care of the share holder. If I was orko shareholder I telling the disco dancing krebs, give me the cash I no want no cde shares. Ask the Palamero folks how great that deal was, they got bought out with presplit cde shares of 4 dollars, which would be like the 40 dallar shares on this deal. It very funny, because they say at the time this great deal for them because cde price so low and that they to have much leverage...RIGHT. You better off getting the cash and then you can buying the toilet paper, rather than just getting cde shares which like getting the fancy toilet paper.
One of the main reasons Coeur has been so undervalued all those years is the supposed poitical risk of San Bartolome in Bolivia. If we assume that Orko will add 6 mln ounces of silver production, based on the 2012 silver production figures the share of San Bart would fall from 33% of silver production to 25%. Including gold, San Bart's contribution would go down from 20% to 16% of total silver equivalent production.
The share price should have increased 5% on this offer instead of going down 10%. The hedgefunds that shorted the stock yesterday are going to pay dearly for their stupid attitude.
krebbs in conference call stated 7/8 million-presentation 7-9 million life of mine---some shorting occurs from arbitrage long orko short cde--quite a day i have aurcana shares i posted early in morning a r/s inevitable because of cde experience a couple hrs later they announce r/s -never saw orko coming but had posted numerous times we should have bought after paas removed themselves-so an exciting day yesterday-if first majestic counters i would expect us to top it--hope paas doesn't come back now navjdad asleep