I'm expecting shares only and probably a minimum of 400million...

I'm expecting shares only and probably a minimum of 400million as this would give Palmer about 35% of the company. Not sure how they deal with the price and value of these shares as they will have to make some assumptions of what the sp will do post deal.

Issuing 400million shares based on the current price of 18c would relate to dilution down to about 11.5c all things being equal - BUT now ARH own a resource of AT LEAST 1 billion tonnes so the Share Price will increase several fold - this is the price risk Palmer will have to take on, his 400 million shares at 11.5c are worth 46million but as ARH now have the resource the price is likely to at least 50c, making Palmer's shares worth 200million - consistent with what CITIC paid for a billion tonnes - difference here is Palmer would still have 35% of the resource and upside - complicated deal and I may be way off in my thinking - anyone else have any thoughts?