I like your line of thinking but.... I am not sure that ADN...

I like your line of thinking but.... I am not sure that ADN shareholders would want to do that as the assets that ADN owns 100% of, may at some stage end up competing with the new "merge company" with similar or identical kaolin products.

I think it would be more likely to succeed from the perspective of BOTH companies if MEP shareholders transfer its 25% share of the Kaolin and 50% of NHH assets into"ADN " so that 100% control of these valuable deposits and NHH are controlled by a single company. It would be a neat and clean deal and set up enlarged ADN for significant success and SP growth. I am assuming additional ADN shares will be issued in payment for the transfer of ownership of these assets.

The existing MEP exploration company could continue exploring as they have done in the past. The directors of MEP might find this a bit confronting and would need to deliver better results than they have in recent years. I have limited knowledge of the MEP directors but lets just say they have been well paid and well fed for the lack of success achieved.

I just hope that not too many directors egos at MEP get in the way of this kind of transaction. If existing MEP shareholders receive "fair value" in the number of shares in "ADN merge company" no one (i.e. no shareholders) looses and everyone comes away with a good deal.

Just my thoughts on the matter.
Cheers W2