re: Ann: OGH: Scheme of Arrangement to Merge ... I agree with the Chairman's view on this. After reading OGH's quarterly update, I personally don't see the synergies or benefits in merging our oil & gas energy assets with a junior mining explorer.
In saying this, I agree Emerald is approaching a situation where something needs to be done, but I really hope our EMR Board reconsiders the best outcomes, taking into account the lowest loss scenario for EMR Shareholders. This may well entail selling up / liquidating all of EMR's assets and making a final distribution to EMR Shareholders. At least Emerald Shareholders would then get some sort of return in lieu of further ongoing dilution, and by this, I mean a future that would almost certainly comprise of MANY further Cap Raisings etc to pay for ongoing admin, salaries, exploration, and general cost of business to keep afloat....
It just shows what an incredibly risky, expensive and difficult business it is being a junior explorer (even with the great assets Emerald used to hold)- be it in energy or mining.
I will be surprised if an independent report could make a case to recommend the merger to EMR Shareholders. But this is just my view, the Board are doing the right thing by the Shareholders and getting an independent opinion.
GLTH
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