The Hecla offer was in my opinion an insult and though I've obviously been proven wrong, as far as value due to silvers decline ,it still remains a benchmark of a minimum value at the time of their offer.
I asked IR at Hecla, at the time, to change their cash offer to an all share offer but they refused to accommodate us. I think that might have swayed the vote ,but I certainly question the validity of both the vote on Hecla and RX . 73% in favour of the merger is very close to being a failed attempt. The ridiculous pay out to RX of (4m,I think) was also a scare tactic set up.
The long term shareholders at US Silver did not want to give up the Galena and with our blinders on , we stayed the course with the RX deal. I am on record as pleading with shareholders to turn the RX deal down. I could never understand the logic in assuming value on the conclusions established by Cormark and Sprott,but their supposed "good name" was too strong . Never heard of a "fairness opinion" done with such obvious related parties,taken as the whole truth . (AND WE LITERALLY PAID FOR IT)
If there was ever a case of experts conning the retail for their own benefit ,this is it and I'm stunned by the fact that the injustice of the merger to the retail shareholders of US Silver has gone unchallenged by authorities.
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