Realistically, the only thing I can think of is lack of faith in...

Realistically, the only thing I can think of is lack of faith in the AMU board / directors. Their approach to the past 6 or so months has stunk IMO. One thing I don't get this is:

My impression is that Eden is financing 100% of the deal (ie. injecting no equity). I could be wrong, however that is the impression created. Now, if that is the case, I see no real reason why AMU couldn't make a 33 cent capital return, plus a 2 cent dividend, gear the shell to the hilt, and be left with a 1 cent company that has a simple objective: minimise exploration and pay down debt. Who knows, the shell might even trade at 4 cents giving 39 cent value.

Only problem is this: the company has for years and years not wanted to pay any money to shareholder in the belief it creates expectations it will be maintained so why would they start now. I simply call it board priorities and discipline, or lack of.

MJS