In my view the market did not believe the merger would actually happen and/or that if it did, the CRML price would crash by 80% or more.
So all we need now that the merger is effective is for the SP of CRML to hold up once listed and the market will be forced to re-rate EUR significantly. It cannot stay at 10 cents under those conditions, or even 20 cents. If it does, someone will swoop in with a takeover bid.
EUR Price at posting:
8.6¢ Sentiment: Hold Disclosure: Held
