http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=7879310
Genco Resources (GGC, GGCRF) just announced a merger with Silvermex Resources (SMR, SLVSF). Silvermex is populated with former Hecla (seekingalpha.com/symbo...), and Silver Standard Resources (seekingalpha.com/symbo...) executives on their board.
26 % upside from Fridays close and bright prospects moving forward with great management and the Silver price moving!
Marco G.
Posts
Hi, thanks for your blog. Great info. I'm holding Genco and looking to add. From the PR it looks like shares will convert on a 1.1 to 1 basis, meaning we basically lose 10% of our shares upon conversion. Just wanted your opinion on whether to add here or wait til after deal closes. Thanks.
ReplyDeletedon
Really hard to say Don,
ReplyDeleteEach has to consider their own circumstances.
I was overweight GGC and was looking to sell some, but then, there is upside to all this with Silver moving so, I held on for now.
Interesting threads on Stockhouse.com:
http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=GGC&t=LIST
Lot of intelligent posts there with really good info.
Silver success to you!
Regards,
Marco G.
Thanks Marco. Reading both boards. There seems to be some disagreement as to the share conversion. When you get a chance, i'd like to hear your thoughts on the 1.1 to 1 conversion. Are GGC shares losing or gaining 10%?
ReplyDeleteThanks
don
They are definitely gaining. The difficulty in wording has the big boys confused. GGC should be higher priced than SMR.
ReplyDeleteMarco G.
Thanks Marco. Appreciate the responses.
ReplyDeletedon