$3.22 my short term target

RE SLR's value . . .
For a reasonable worst case - you can just add together the two market caps (of IGR and SLR) from the day before the deal was announced.
Co, $SP, #, total market cap
SLR, 2.84, 225m, $639m
IGR, 0.315, 934m, $294m
La Combination, = $2.49, 374m, $933m

So $2.49 as the reasonable worst case??? Then you have synergies. A 10% uplift in NPV due to synergies takes you to $2.74 - where we are now. Surely SLR management are confident of more than that to bother with the deal. Assume 30% uplift in NPV and you get $3.22.

I'm sure an elaborate spreadsheet could show a huge range of values, but that is what I am factoring in as the expected SP short term. Obviously many factors could influence this - especially a counter bid.

I think then it will be a matter of proving the economics, showing follow through on plans etc etc. I love this deal - so think it is worth even more than that, but the possibility of a counter bid needs to be factored in as well.

(Re counter bid - somebody with deep pockets would be better off grabbing both SLR and IGR IMO. A competing IGR takeover should positively impact SLRs SP as well.)

Do your own research - I am often wrong. You could lose a lot of money if you buy any stock, especially if partly based on a Hot copper post. ;-)