"I wouldn't think that there would be any tax implications, mergers generally are structured so as to avoid adverse effects and I'm confident this one will be, too."

I would agree. But I'm wondering about page 6 of the presentation, where it says:

- 0.0500 Golden Minerals shares plus C$0.000394 for each ECU share
- To be implemented via a plan of arrangement
- Taxable transaction

Not sure what they mean by "taxable transaction"... Hopefully only the cash portion would trigger a tax event.

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Thanks Wolf. The presentation clearly states the transaction IS taxable. If it was only on the cash portion they would have said so. This means some of us will be forced to sell shares to raise cash necessary to pay the taxman, just to maintain our current positions. And these amounts can be substantial for those who like myself are holding 10-baggers. Unlike others here, I don't have that kind of cash sitting around to fund the tax demand out of pocket so this part of the deal hurts - a lot. This might account in part for the drop in SP today.