In for a punt, this is main risk: In the event the share price of Saracen falls by more than 15% prior to execution of the SPA, Saracen would have the right to withdraw the offer and the Transaction would not proceed.
better hope gold price stays high!
If the deal goes through, this is a bargain. If it doesn't, well, we prob won't make a dollar.
Capital raising also due...almost no cash in the bank. Hopefully handout comes and deal goes ahead. But SAR isn't a company that needs cash...so worth a punt.
BGH Price at posting:
3.6¢ Sentiment: None Disclosure: Held
