Perhaps the fact that our shareholdings will be diluted...

Perhaps the fact that our shareholdings will be diluted massively has put a dampener on it? Is the gold project worth enough to mean that our shareholdings diluted to 33% of their original value will be compensated? In other words, will MAR make three times as much money as they would have otherwise because of this "aquisition"....

It seems to me it is more like a takeover of MAR than MAR taking over Volger...
sure no individual shareholder in VEPL will get more than a 20% stake in MAR, but combined they will have a 66% stake (well and truely a majority). They are currently partners, what is to stop them acting as such with respect to MAR, or even to stop them jointly making a takeover bid a time that suits them.

shares currently on issue: 176,196,439
shares that wil be on issue if goes ahead: 526,196,439

Note that the 350,000,000 shares issued will have an issue price of 6c.

I'm surprised the sp didn't go down!!!

Tony.