You are kidding yourself. SBM have a depressed share price but are turning it around, making money and have substantial assets that will be further developed. GMD on the other hand have a massively inflated share price based on little substance other than Raleigh Finlayson's self promotion through the media. They will be burning through cash at double quick time with little earning capacity, If you compare these 2 companies based on asset valuations they are eons apart, and any merger based on current share prices would dilute SBM shareholders for little to no gain. St Barbara shareholders do not want any deal with Genesis as was made clear by one of St Barbara's large shareholders in the Q4 call yesterday.
SBM Price at posting:
93.0¢ Sentiment: Buy Disclosure: Held
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