merger good or bad

TMR Merger

I have been through the numbers in the presentation and it seems to me that HC is setting TMR up for the future.

If you ignore the numbers based on todays prices, resources, nbr of shares etc you will find that the merged entity has some pretty exiting prospects

E.g.

2008

"Forecast Production"
TMR IBR
Gold Ozs 2,300 41,000
Rev $ $1,610,000.00 $28,700,000.00
Copper Tonnes 8,300
Rev $ $51,128,000.00

Total Revenue $81,438,000.00

2010

"Forecast Production"
TMR IBR
Gold Ozs 2,300 210,000
Rev $ $1,610,000.00 $147,00,000.00
Copper Tonnes 13,000 + more ?
Rev $ $80,080,000.00
Total Revenue $228,690,000.00

Other news from the presso;

New office - Sydney
New Resource Statement in March.


My gripes;

Why take off trading halt amid the chaos caused by Shanghai?
Why pay such a large premium, in shares? If the combine entity is going to do so well, then why not merge 'on par' with no apparent premium?

IBR followers seem to think the price is too cheap!!

Come a couple of days I think you will see the share proceeed heading north again.

Cheers,
IHS