Yes I know and have been looking forward as well as dreading for...

Yes I know and have been looking forward as well as dreading for this day for 2yrs as many here are aware. To make it very basic, for simplicity (I don't really know how to dumb it down so apologies if I sound condescending it's not my intent), understand that EUR has more than 67M CRML shares from the very roughly 80M shares issued (approx 20% of the 500M approved). Just so that you don't get caught up on the other shares and % ownership.

Whatever the case of everything else, if the market says each share cost $15 then you just need to multiple 65M of that to get a basic understanding how much value, this new asset (CRML shares) would be in the balance sheet. Yes, currently at this share price, over USD1B.

Time will tell where it will settle by the market and when. But I really don't like giving above advice based on share price. It is best looked at from market cap point of view NOT share price. Unfortunately though, market participants these days seem to only care about share price hence don't fully grasp and gets confused with this merger.

It makes sense why people see it that way these days. For example, Tesla issued more shares recently for Elon Musk and share price barely budged. So this pushed the market cap up, despite the fact it's an obvious dilution and the company is now valued over 16x its YoY revenue, which is insanely over inflated. But that's market sentiment and confidence for you, I suppose.

I give this example as if the market keeps CRML at same share price, upon issuance of more shares, market value will increase (it's like printing money).

Retail in particular is struggling to grasp this and in turn blaming the Board for their own lack of understanding.

I can only hope I'm shedding some light into this and I'm not here to educate or preach. Simply serving my own interest, in particular M&A. Cheers