The stock is down over 18% since they announced the convert. SLV is up 3%.
The new convert replaces 4.5% debt with 2.875% debt. Interest expense only goes up $1 million, even though they have 81% more debt.
At September 30, 2012 they had $545 million in cash and marketable securities after investing $45 mil in property and equip.
On January 15, 2013 Deutsch Bank goes from hold to sell.
The premium on the convert has gone from 35% to 63%.
What is the best way to value this company?
Has anyone seen the DB downgrade report?
How much stock does management own?
Bad company,will only soar when silver has a big move up,if silver keeps lingering SSRI will go under 10 usd/share,only intresting for calls when a silver swing up,Argentina is a problem.