Very cheap ... only values RNS (with 49% of project) at 7 c with a resource of over 1.3 million ozs, massive exploration upside and clearing $US 600 an oz on around 90,000 ozs pa production. Only upside is that RNS shareholders keep a share in the project and maybe EMR can push faster to production. Either way, still a steal for EMR and RNS directors might have held out for a better offer.
Ann: Emerald Resources and Renaissance Minerals to Merge,EMR-RNS.AX, page-3
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