It's not quite that simple unfortunately.
So I don't feed you info that I know already, and it needs to be checked. Work out the percentage of market cap (Say $130M) that you will initially start off with in the new entity when it all merges (and there are 3 companies actually merging here). Get back to me when you know the answer.
Here are some tools:
http://www.marketindex.com.au/asx/co1
https://www.bloomberg.com/quote/FCC:CN
The downsides here are:
1 - 4 months till merger for the SP to be played around with (also opportunity cost where it could be employed elsewhere)
2 - Risk, which I consider pretty low. Not in production and plenty of drilling required.
3 - Timeframe to maturity, maybe 3-4 years.
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