LML - LMLND, page-6

If some find the above confusing, I understand.

To further illustrate my point, the current value ascribed to the merged LML / LMLND entity (LML post QGL offer) is currently 3.37 cents per share.

The SP of the merged entity (assuming QGL offer fails) is actually closer to LMLND than to LML due to there being more shares on issue for LMLND.

So in actual fact, LMLND should be considered the primary share for the company (not LML).

If things stay as they are, then LMLND is a good buy and you will make 50-60% upon the merge.

However I mainly look at what does the company have and what Market Cap does it deserve - this is where I have an issue as I think an approximate $46M market cap based on 5 cents and 2.2 cents is a bit high for me personally based on the company assets, prospects and stage of exploration.

That's fine, company's can trade high for some time. The problem is with LMLND, that you can't easily get out if things start falling - as you won't realise the potential increase in the merged entity until it actually happens( minimum 1 month away and possible several months if QGL extend their offer further), so the only other way out is to sell LMLND itself - which may fall if LML falls.

As I said, it's an interesting situation and I have to give kudos to LML management who it seems have played it beautifully to thwart and block the QGL bid which was unreasonable and significantly undervalued the company. And I was very tempted to enter LMLND. Chances are it will trade higher than the current 2 - 2.2 cents, but it may not trade at 5 or 6 cents like many people here are hoping??

GLTAH