The merge number crunch is based on market cap ratios of HRZ and...

The merge number crunch is based on market cap ratios of HRZ and GSR around the Jan/Feb, but in my opinion both companies have been in talk since July 2023 to align their share prices. In the case of GSR it was to force the SP down by not mining Burbanks North 22,400 oz permitted open pit to 35 meters ,FMR Investments pulled out of it by mutual agreement. After that the Mt Thirsty scoping study has been promised but never delivered. Resampling of 75 historical drills has seen 17 samples reported on and the remainder have disappeared it seems.

If we go back to July 2023 and compare their SP graphs I think we will see GSR SP about 1.7 cents and HRZ about 3.35 cents
after that the Greenstone SP was forced down in after 4pm trade to 0.005 cents and the merger is announced, HRZ SP remained around 3.35 cents .

In my opinion Greenstone shareholders are getting screwed and a proper valuation based on market cap ration should be 0.3600 Greenstone shares for each Horizon share.

I am expecting good news out of Horizon to do with Cannon with contracts etc and that will be the carrot for Greenstone shareholders to vote for the merger but there will not be any good news out of Greenstone as the directors of both companies do want the share price to go higher than the merge offer of 0.2868 Horiizon share.

It is a numbers game now, but I am not being fooled by any of it.

Just my opinion.