No brainer exactly.IMHO the board made the right call with...

No brainer exactly.
IMHO the board made the right call with Manna. Existing shareholders had the opportunity to sell down and buy GL1 on day of announcement. IPO was going to cost money and time, thier focus is on gold so this option was a win win for all. Takeover in near future is not going to happen, major shareholders are in for the long term, either to development or grow resource to over 2.5mill Oz. By then the SP will be much higher and takeover premium maybe tempting. Any takeover to succeed will require the buy in from major shareholders. As for the shareholding in GL1 why would you monetize now they don't need the money. I would wait for next Manna resource upgrade or if needed explore CR into the future. They have options!