nice announcement, page-8

Hi AP
Good to see you here.
Im sure there is some manoevuring on both sides but in the end its in both companies benefit that the merger progresses smoothly.
I dont know how they both got together initially but many have called it a marriage made in heaven....maybe they met down some dark and romantic mine shaft and sparks flew.
From where i stand if Nustar said the mergers off they would have 5 years minimum of 80k oz of gold per annum and more beneath the current reserve.
They are in profit now so intrepid needs nustar as a merger partner more than nustar needs them.
As for the post merger valuation of 16c per share well ,i would say thats conservative.
With only 40% of nustars production hedged at about $620 aud per oz for 3 years guaranteeing profitability and casposo still to come online at a much higher price it all looks good for the future.
I also like the way this has gone under everyones radar.
For the record im holding a lot at av 6.5c.
My only concern from the last report was that cash costs did not drop as much as was forecast but that was made up by the higher gold price and they are not really that high anyway around $350 from memory.