the deal

a few minutes using Excel yielded the following assessment:
DRD VWAP - US$9 = $A$11.25 using 80c to a $
MLI VWAp - 5.9c
WWI VWAP - adjusted 2.1c.
Deemed MLI assets excluding WWI is 3.8c.
Therefore, it is 296 MLI shares to 1 DRD share.
Market value of MLI assets excluding WWI is 4c - 2.1c = 1.9c!!
And DRD is paying 3.8c!! That's is 100% premium!! And DRD is not getting the cash in MLI plus other assets.

Also, 296MLI@4c = $11.84, which is close to a DRD share. In other words, you get the rest of MLI for free.
Note that xchange rate is very generous, a fall in the AUD will make this offer better.Unfortunately not for those who paid more than 6c for MLI.

Not forgetting if MLI remains, there will be further capital raising to fund the cost of projects. Now with DRD, you just sit back and get a dividend. The net cash flow would be quite astounding.

Am I speaking bull?