Without a doubt Baraka, though we will be unlikely to ever learn...

Without a doubt Baraka, though we will be unlikely to ever learn about any of what actually occurred.
You read my mind in regards to SLR/RED, which saw the larger producer (of the two) take a 48.3% of the merged entity, even though they had the cash (no debt), no hedging and 2 producing assets (almost 3) versus a single asset miner (SLR/RED) with poor hedging and debt. I just get the feeling that whilst the cash is nice, the market does not overly care. They care about future cash generation.

Now of course, there are some big differences.... SPR is not producing. RMS is the one with the hedging etc.

As I posted already, RMS previous T/Os have been somewhat lengthy, yet none of them saw RMS begin with such a large holding.

As you say, it could be a very interesting week. I know I am biased, but on balance I think SPR have a stronger hand, at least in the sense that time is on their side (they don't require any further capital for potentially 12+ months, even if they ordered long lead items for the plant etc). Sure RMS have huge cash flow being generated, but... again, the market seems to value long life assets far more so than just current cash generation (look at CMM & EMR).

Cheers for that @Joelstar - Any chance you have any other data in regards to who has been buying/selling?
I am actually happy to know that it's a 100m less shares traded. Less shares traded potentially means holders... are going to keep holding.

@KKLL - Cannot deny your Spartan reference put a smile on my face, but... I am trying to keep a level head about everything right now, as I am not opposed to a deal, if... it makes sense, as at least I would still get to hold the SPR assets, albeit diluted (versus an all cash offer by an overseas company).

I guess the new company could reinvigorate the current RMS logo? (i.e. Spartan riding the golden horse).