cde closes up slightly again

Coeur closed up 4 cents to $US 3.70. That values the Couer offer for BSG at $AU 3.07 per share.

The CEO of Coeur speaks glowingly about Palmarejo in the webcast on their website.

Surely another takeover offer for BSG will happen. BSG shareholders have been "softened up" by the Couer offer and its lack of a premium. Shareholders have been struggling to understand the thinking of our Board in proposing a merger with a company with serious issues at its new generation mines in Alaska and Bolivia, when start-up production from Palmarejo is so close. Coeur may bring technical/management expertise to the project as well as funds, but why have our Directors given Coeur call options over all their shares in a deal that the market is saying is lacklustre.

Explanations are needed, but our Board has been deafeningly silent. The deal itemises Coeur doing due diligence over BSG but not the reverse. Can it happen that BSG shareholders vote down the merger, but CDE still exercise their options over our Directors shares ? ... or is there an out for our Directors ?

Another offer for BSG should emerge. A Pan American Silver or Silver Wheatton would now win BSG at a lower price than had Coeur not appreared on the scene.