No issue with a tie up with RMS on fair terms. I, like many others appreciate the future benefits. Simply want an equitable split of "merged co". This isn't it. What is proposed hardly recognises what SPR has let alone future extensional drilling results on virtually all ore bodies that are open with results soon pending (are they "going slow" on this to suit the merger narrative?).
For mine I also want the choice of receiving my entire stake in RMS script, not the 25c in cash. That only compounds the dilution.
Simon's done a brilliant job in taking GCY to this point but I genuinely feel he's taking the "golden parachute" option with this. I think it's worth more to an interloper even without the SPR/RMS synergies. RMS will pay more if it is contested because they can. RMS have left too much on the table for an outsider to come in over the top of them.....remember Karora. If it repeats here, I'm not ascribing it to Simon's brilliance but despite it
SPR Price at posting:
$1.75 Sentiment: Hold Disclosure: Held
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