Hi Cranium,This is what I think will happen. "Primero is listed...

Hi Cranium,


This is what I think will happen.

"Primero is listed on TSX and NYSE and will provide for listing of the Primero shares issued on the merger on ASX as CHESS Depository Interests."

This means Primero will apply for a listing on the ASX after the merger has CJO shareholder approval. Then your CJO shares will be cancelled out and show up under the new Primero listing at the conversion rate of 0.023 of a Primero common share (the “Exchange Ratio”) for each Cerro common share held (the “Share Consideration”)

What remains to be seen is what happens with Spinco? Or the non Cerro mine assets? My guess is a new IPO on the ASX and possibly Canada run by the CJO management crew. They have 4 million in cash to start off with and no debt. Some assets like Namiquipa and the backing of Primero @ 19% and to a much lesser degree Goldcorp. This company will be interesting to follow?

The 80% ownership of Spinco by CJO sharehoders could be worth crumbs due the huge share float in CJO and how this translates to the valuation in Spinco?

Goldcorp owns @ 31% of Primero. It will be nice to have Goldcorp as a tail wind for our prospects, rather than fighting what seemed an uphill battle to get any support financially or at a corporate level.