ENK closed at 8.25p on friday.
This equates to a merger price for RML of 10.87c after allowing for the 4 for 5 swap and AUD/GBP forex of 0.607.
Hence the ASX price is at a 17% discount to current ENK price.
However, until the Chinese (or other) finance for ENK is forthcoming there can be no guarantee of which way the ENK sp will move before the merger is consummated.
CPDLC
