any thoughts, page-3

i have not tried to do a valuation on INP.
I used to be a s/h of INP, but sold at a loss - lost all confidence in their mgt after Flax farce, plus INP purchase of tiny % in Bass Oil project (just that it is a meaningless size stake).
INP then tried to increae their stake by trying to raise capital via a big equity raising, but of course no one was willing to gamble.

so merger prbably makes sense. I am a big fan of economies of scale, with all its attendant benefits.

But, DLS will be issuing 655m new shares to INP s/h.

Two things will surely happen once that Scheme is finalised and new shares issued:
1. New INP s/h will dump their new DLS shares on market

2. DLS will have around 2,600 million shares on issue! Thats totally silly -too unwieldy.
So, once the new shares are issued, DLS will immediately CONSOLIDATE the number of DLS shares on issue.
That consolidation will probably be a 10:1, which will bring the SP to around 70c per DLS share.

In my experience, a consolidation usually drops the effective SP.

anyway, plenty of water to flow under the bridge ( and even more in rural Victoria!)

cheers