I can't understand the extent of the current SP discount either....

I can't understand the extent of the current SP discount either. Its a very cheap entry price at below 8.5c but the money will be tied up until late December at best.

For me the proposal takes risk off the table. With an average buy-in price of 5.5c I get a healthy profit (though no windfall). To get my last 12% (or so) I have to miss other current opportunities.

I will now sit back and see who wins the major upcoming contracts . Assuming a big Gorgon type win for ASL is on the cards an immediate capability ramp up would be an absolute necessity. This merger (T/O)could help ASL in that direction. Contract wins, some of which will have a political tangent in WA, would create the necessary upside to the ASL SP.

Cheers