I like the CAH / LST story and the merger seems like a logical...

I like the CAH / LST story and the merger seems like a logical step for the new company to become a mid tier gold producer. With future resource upgrades at both Edna May and Cracow on the cards, mine life extensions, low cost producer, the future does look good. I also like the fact that CAH have forward sold 352,316oz of Au at A$1544.

Question. At todays current SP (CAH-0.13 & LST 1.52) would I be better off investing in LST or CAH shares ?

Given that LST will be paying a 10c cash payment per LST share I believe that they currently provide the better option, although I would receive fewer CAH shares after the 11:1 consolidation.

Eg. $1000 investment

CAH - 7692 shares
LST - 657 shares

CAH - 699 (after 11:1 consolidation)
LST - 657 CAH shares + $65 cash payment.

Is this correct ?