Nope - you're not the only one :) The muted reaction to the merger with LGL was half expected. It will pick up, and once we have LGL shares instead of EQI shares, you'll find that they track the gold price pretty closely. Gold up - LGL up, and vice versa.
The merger has to be good for both companies, as it is diversifying the risks for both. Lihir's main problem was one of all its eggs being in the one main basket - that island! Equigold's main risk was the potential for sovereign problems in West Africa, even though they've been operating there just fine since the mid-1990s.
So the risks are spread across the newly merged single entity, and that should be seen as a huge plus by brokers and investors, once it becomes a reality.
As usual, this is just my opinion - feel free to disagree.
I hold EQI
EQI
equigold nl
