Ann: MacPhersons and Intermin - Merger Implementation Agreement, page-3

I agree it's a good deal ecker. I too would've preferred if the Boorara revised MRE was announced prior to the merge to let MRP shareholders have more leverage in the merger deal (better ratio).

But having said that, if the MRE is announced tomorrow and it's positive, MRP shareholders will still benefit as much as IRC shareholders. Similarly, if there's any positive developments from IRC, MRP shareholders will also reap the benefit. In the bigger scheme of things, this merger with IRC has value-added to our shareholdings much more than a revised MRE would've.

The shareprice of both these companies will now go down/up in a lock-step fashion from now till mid-2019.

Am happy to see that IRC shares very similar goals as MRP - can't wait to see Horizon Minerals becoming a mid-tier producer by 2020.