IKN

More matter with less art

First Majestic (FR.to) goes shopping in the bargain basement

I remember this Silvermex (SLX.to) getting pumped to over a Loonie in late 2010 and plenty of mouthbreathers getting on then (to da moon alice, etc). I also remember Sprott getting loads in a 62c placement, so he’s walking away even on this, it seems. It’s not one I’ve ever owned but overall it looks like a bite-sized chunk of fun at a cheap price for FR.to that’ll give it a bit more production ooomph without much of a dent to the balance sheet. Big fish eat the little fish, way it’s always been.
Here’s the NR, here’s how it starts:
VANCOUVER, BRITISH COLUMBIA–(Marketwire -04/03/12)- First Majestic Silver Corp. (“First Majestic“) (TSX: FR.TO – News)(NYSE: AG – News)(Frankfurt: FMV.F – News) and Silvermex Resources Inc. (TSX: SLX.TO – News)(OTC.BB: GGCRF.PK – News)(Frankfurt: GSBN.F – News) (“Silvermex“) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Silvermex for a consideration of 0.0355 common shares of First Majestic (the “Exchange Ratio”) and C$0.0001 in cash per common share of Silvermex. The offer values Silvemex at approximately C$0.60 per share, representing a premium of approximately 33% to the closing price of Silvermex as at April 2, 2012 and approximately 43% to the 30 day volume weighted average price (“VWAP”). The transaction will be yada yada continues here

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.