It would appear to me that First Majestic did a pretty poor job selling this deal to their shareholders. They might have been inclined to convey at a minimum the number of silver ounces that they are acquiring. Once their shareholders recognize the value of La Precosia, one would like to think that their Share Price will appreciate as compared to tanking.

As this is a paper swap, our share price is now tied to the hip of First Majestic's price. As per the deal, we are offered .1202 shares of Manestic for each OK share or 1 full Majestic share for every 8.31 shares of OK. As I type this First Majestic is trading at $21.10 which should equate to $2.54.

As much as we are tied to the hip of Majestic, we are also tied to the price of silver. Take a look at the charts of both Majestic and silver - pretty similar.

If the U.S. can get there house in order and we have a decent run in the price of silver, certainly still some upside potential here.

i do have to question Orko management's motivation for agreeing to an offer at this point in time in light of the fact that our PEA was scheduled for February. What could that motivation be other than being hopeful of competing offers?

Again, not tendering my shares for this offer.

cheers,

Milsy1