Given the Coeur D'Alene proposal to pay more for Orko Silver with a cash component I believe that First Majestic just might collect the $11.6 million break up fee and move along.
This brings to mind that Santacruz Silver Mining is a very near term producer and if First Majestic passes on upping their Orko offer then their attention might turn to Santacruz.
There are a few other Mexican based silver miners that also might have their eye on Santacruz including Fortuna.
Yes Orko has a large deposit but millions are needed to develop this property, why not take a run at Santacruz? Once the Rosario Project is up and running further risk is minimized for any company considering going on a shopping trip.
For the record I am long both FR and SCZ
This brings to mind that Santacruz Silver Mining is a very near term producer and if First Majestic passes on upping their Orko offer then their attention might turn to Santacruz.
There are a few other Mexican based silver miners that also might have their eye on Santacruz including Fortuna.
Yes Orko has a large deposit but millions are needed to develop this property, why not take a run at Santacruz? Once the Rosario Project is up and running further risk is minimized for any company considering going on a shopping trip.
For the record I am long both FR and SCZ
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