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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Krikor who wrote (4287)6/19/2002 9:40:01 PM
From: arizzzona  Read Replies (1) | Respond to of 4409
 
Hi Krikor, good job unloading.

I agree with your guess -- but think it may dip a little lower. Some disappointment selling.

I still have about 33% of my position. I guess I'll still get about the same for my BAY shares
as I could have just before the merger.

What I wonder is, with this development, why do the merger in the first place?

Silver was $4.65 back then. Certainly, BAY on it's on would be stronger than $4 today.

Makes no sense to me, but I'm sure there must be a good reason ... or someone (s) other
than current BAY shareholders who will benefit from this.

-AZ



To: Krikor who wrote (4287)6/19/2002 9:43:41 PM
From: Canuck Dave  Read Replies (2) | Respond to of 4409
 
This sucks. With PAA under 12$, the warrants are worth zero, zip, nada.

You can kiss the exploration unit goodbye, also. Only way we make money is if PAA goes above way above 12$ before the merger is complete.

Let's see, to make BAY worth 6$ again....

6 =.385X +.1925(X-12) ----> X=13.74

In other words, PAA must go to 13.74 to make the existing BAY shares worth 6$. This is a significantly worse deal than first announced.

Shit!

CD


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