Ann: MacPhersons and Intermin - Merger Implementation Agreement, page-2

IRC takes over MRP without paying a premium.  I think this is a good deal for MRP holders. Getting to production as fast as possible is the way forward as oppose to the current strategy continual drilling to prove up the resource. 

I am little bit concerned that we almost 2 months late in announcing revised MRE, if this is eventually announced and it is positive, IRC holders will benefit from the upside.  But I am guessing MRP is having trouble convincing the independent consultants to reduce the waste cut-off ratio.