Whilst not happy with the deal.  Great Panther will likely...

Whilst not happy with the deal.  Great Panther will likely succeed and get BDR at a massive discount.  My rough calculations estimate the discount to be between 40-70% based on current available information.  When looking at this deal its well timed with the vote to be cast on the 12 Feb.  

Therefore, Great Panther share price in theory should strengthen significantly after the deal is complete.  So at the moment, l am not selling either and will happy take US/Canadian scrip.  

In regards to a White Knight, l don't see one emerging.  Great Panther holds 18% of the scrip and a blocking stake strategy doesn't appear on the surface to be logical game to play either, unless your wanting to slow down the process.  

Great Panther share price this morning closed at 71 US cents and values BDR transaction at 6.2 cents.  If Great Panther can get back to its high of 2018 of $1.43, then it could a profitable investment.