PM annoucment now out regarding the possible merger.... looks like the terms are 4 new Minsec shares for every 5 srb shares! good value for srb.
i had a quick look at srb's assets and they have a 25% share (Xstrata holding the rest) in Lady Loreta which is 13.6mt at 17% Zn with some pretty healthy Pb and Ag credits..... at current Zn prices its share is worth approx $2.5B (insitu)
also got some quite nice gold plays and a healthy cash position. should compliment MSX quite nicely...
i just wish the MSXO would start trading at their intrinsic value currently trading 12.5c below!
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