interesting read, page-9

"Our Canadian commonwealth buddies wouldnt shaft us would they?
They need us more than we need them id reckon."

~ NO more than VRB.v needed PCE.au patent tech. we'd say, Spidey.
but,
it's just that - "1:1" or "historic market prices", in the Plan of Arrangement, which has us a bit confused at the moment:

http://www.nustarmining.com.au/upfile/NuStar%20-%20Intrepid%20Merger%20ASX.pdf

Proposed transaction
• NMC to acquire all shares in IAU through a
Canadian Plan of Arrangement
• NMC to implement 1 for 12 consolidation prior to issuing
shares to IAU shareholders on a 1 for 1 basis
• Exchange ratio to be based on historic market prices
of both stocks
• NMC shareholders to own 62.6 percent of the
merged entity
• NMC to change name to Intrepid Mines Limited and apply
for dual listing on TSX