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Axe

What I don't like about this merger is we have 2 good mines (1 each from Newcrest and Conquest) that require funding to start up. Yet, the new entity want's to raise 120 million for a new acquisititon?? Let's get these 2 mines commissioned first (within 2 years) then worry about another acquisition. I believe the purpose of raising these funds is presently affecting the share price.
The new entity will have too much near term debt. I think the market is too nervous that the entity will acquire another acquisition that is not presently producing. If that's the case then were looking at a longer time-line to pay off debt and the risk of a future price drop in commodities.

Why don't they wait 2 years for another acquisition? It still fits within their 5 year plan. Your right Axe, I think Conquest are the biggest winners in this 3 way merger. At the moment Catalpa's share price is not looking good and I can't see it moving, up or down, untill the new entity is merged and the market is informed on what they are acquiring. I think they know who they want!!

Bad luck if you thought you might partly cash out for now or in the near term. I wonder if St Barbara is still interested!! Edna May is starting to bear fruit and they know it!!