Orko Silver Corp

The most important recent event has been Pan American Silver withdrawing from a JV with Orko on their main 'La Preciosa' development project. See http://www.orkosilver.com/s/FinancialStatements.asp the Apr. 30, 2012 MDA.

You can view this from several angles:

1. PAAS backed out because it didn't meet their profitability standards (despite paying a couple of millions on the PEA)
2. From a 45% minority JV partner Orko became 100% owner again, with the project advanced considerably

The market saw mainly the first point and OK shares tanked. All of this happened during spring 2012 when any news on a junior most likely lead to their shares sliding. Conclusions are all yours.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec 16, 2012) - First Majestic Silver Corp. ("First Majestic") (FR.TO)(AG)(FMV.F) and Orko Silver Corp. ("Orko") (TSX VENTURE:OK)(OKOFF)(OG3.F) are pleased to announce that the companies have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Orko for consideration of 0.1202 of a common share of First Majestic (the "Exchange Ratio") plus $0.0001 in cash per Orko common share. The offer implies a value of C$2.72 per Orko share based on the closing prices of both First Majestic and Orko''s common shares on the Toronto Stock Exchange ("TSX") and TSX Venture Exchange, respectively, on December 14, 2012. The offer represents a premium of approximately 69% to Orko''s 30-day volume-weighted average price ("VWAP") for the period ending December 14, 2012. The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).