This should not be misconstrued as a takeover; Sinomine wants either 51% of PSC or buy the Arcadia project outright (100%). IMO the first option is better for SHs as production at Arcadia will still go ahead and SP will rise. Sinomine will become a major shareholder in PSC with 51% shares. If Arcadia is sold outright.. shareholders get nothing - PSC will receive cash payment and will come and tell shareholders they now have more money at the bank to push forward other projects. With Arcadia gone and no production in sight, PSC shares will fall. It will be the worst option for retail shareholders but my gut feeling is - that's where PSC management is leaning. DYOR!
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