My initial scan of CRC announcements shows a project NPV between $82m and $128m . UML is issuing around $27m worth of script so on face value it looks like a good deal. I don't mind the merger, it will diversify their production and there's a clear path to 100,000oz production per year, where as previously there wasn't. I don't expect the share price to go anywhere in the short term though.
good deal or bad deal, page-11
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