URL 0.00% 13.5¢ universal resources limited

url: universal and vulcan to merge , page-36

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    vulcan seems seems a better way to buy URL shares at the moment the merger is roughly 7:1, so 7 x 2 cents = 14 cents, VCN is trading at 12 cents a 2 cent discount ?

    is my math wrong or something ?

 
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