General Discussion, page-2317

Hard to find a better risk / reward play than here at this price level.

Day of merger announcement the joint MC was $10.6bn USD.

As at close in the on Friday US sitting at $2.6bn USD.

To put that into perspective GXY peak MC was $1.9bn USD.

Now of course this does not mean the bottom is in, but it's certainly closer to the bottom than the top, so a risk but not massive IMO.

Biggest near term risk / reward is a TO offer.

Risk for the LT holders, because price is a far cry from where it's been, LTM close price on Friday is a GXY $1.95 - Ouch.

Will be a reward for those buying at these levels, if a TO or for a LT hold.

While there has not been enough tightening of supply to date than is needed, the pipeline for new projects is going to be limited.