It seems a no brainer to buy AUL leading up to 8 August (record...

It seems a no brainer to buy AUL leading up to 8 August (record date for merger) so long as the current arbitrage between AUL and WRM continues. Anyone would think it was a buyout rather than a merger.
AUL holders must be selling because they do not like the idea of joining WRM but since this situation attracted my value sensitive antennae, I have been swotting up on WRM and I like what I read and hear. In fact I have an order to buy more AUL at present. My initial purchase was in order to buy AUL and sell WRM after the merger and pocket the value but I am now seriously considering holding WRM.
Alaska has become attractive to ASX companies in recent years and they are mostly investing in other jurisdictions so that they can pursue exploration in other climes while Alaska is in shutdown. PXX has picked up Nevada assets; NST was already based in WA; NVA fiddles with drones; while WRM is wanting to join the club with South Fosterville.
I can understand WRM holders being disparaging and selling, but AUL holders have continued to match and exceed the decline. From what I can tell, WRM have some good people who can explore the AUL tenements and make Morning Star hum.