Yesterday, Cream Minerals Ltd. (CVE:CMA), (OTC:CRMXF) stock spiked 36.36% up on the next better bid for the company’s outstanding capital.On Monday, Cream Minerals Ltd. released that Minco Silver Corporation proposed better conditions for its offer for the purchase of CMA. On the same day, CMA stock closed the market with a 4.35% price decline.
Yesterday, the released next competitive bid evoked hot bids on CMA and improved the shares’ performance.
Looks like the notice of Endeavour Silver corp. for the change and the extension of its offer to purchase all of the outstanding common shares of the company was the cream that made CMA stock extraordinary sweet.
As a follow up of Monday’s bullish mood of investors, CMA opened the trading session with a higher price. At the end of the trading day, the company’s shares exploded, closing at $0.15 per share. This was more than the raised offer price of $0.14 per share under the amended offer of Endeavour Silver corp. The volume traded exceeded ten times the average traded for the company, presenting the tenfold investor appreciation towards CMA price increase.[BANNER]
Maybe the presented by Endeavour Silver corp. additional highlights of their amended offer, particularly that the company will offer total cash consideration of approximately cdn.$15.9 million and an increased offer price of Cdn.$0.14 per share, inspired investors and made them think that CMA price may go even higher.
According to Endeavour Silver corp., the increased offer price of Cdn.$0.14 per share represents a premium of 105% over the average closing price of CMA shares of Cdn.$0.068 for the ten trading days ended September 24, 2010, a premium of 86% over the closing trading price of Cdn.$0.075 on September 24, 2010 and a premium of 27% over the closing price of Cdn.$0.11 on November 8, 2010.
