games up it would seem

A few people getting a bit worked up from different ends of the spectrum. I suspect that the reality is somewhere in the middle.

Prediction:
DRD Gold is the "merger" partner. They have the Crown tailings processing plant in Central Witts and just bought rights to the Top Star drive-in tailings dump. Synergies include Atomaer technology/staff and the fact Mintails owes money and shares to DRD for the tailings they have under contract and option.

DRD has market cap of approx US$500M, so this or any similar size partner means this is a take-over not merger, pure and simple. Existing MLI shareholders have virtually no exposure to project upside when diluted with a dozen other projects.

The term Merger in this one-sided partnership is euphemistic; make like MLI are "joining forces", sets a lower tone for takeover premium and maybe is easier to push through the corporate regulations?

Upside will be instant premium to current share price, liquidy and instant profit crystalised for large holders, especially directors etc who are otherwise locked in for potentially many years. A quick easy buck is no doubt the driving force for directors to pressure other large holders to also take the money and run.

Downside is of course losing exposure to a plus $1 stock given time to follow the plan. All upside will be well and truely diluted when selling at arguably the bottom of its share price history and on the cusp of success.

Anyway, a bird in the hand is worth 2 ... so depending on the premium offered not necessarily a terrible outcome. Time will tell but I would be dissapointed with anything less than 40c per share and can't see anything less than 30c per share.

My take on management (before the die is cast): Probably spivs who had a good project offered to them (by the Atomaer boys) shared it around their mates but too lazy to work through the project for fair value. (reserve right to modify opinion post deal disclosure)

Reminds me of the SBS spivs who sold out to the Canaks at give-away prices because they were too lazy to work it. How many Aussies have sold out cheaply to o'seas boys in the past?