Primero is definitely overvalued IMO compared to their peers. The proposed deal for CJO was struck at a higher value than today's close in Canada = $5.65.
Now that P has fallen through the support line of $6 it's possible that lower trading values will be forthcoming?
Buying CJO is really an option on P. It's my opinion P will be clser to $4 if/when the deal closes which makes the CJO deal crap IMO. I am unconvinced this was the best deal for us and have lost faith in management to deliver anything of value to the faithful. I have moved on, but I would not hesitate to move away from this play believing all the claims of current management? They have failed to deliver on any of their promises so why should you start believing them now?
my thoughts, page-19
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