The price, based on GGX's (pre-min spike) price, values OIP at just above its CASH BACKING.
How about a comparison of EV's? One company, running out of cash in a market that is not conducive for raising it - the other, cashed up (with almost no EV accorded its assets).
OIP may have been indolent in their lack of drilling.
But if the remaining directors think shareholders are going to allow a merger on these terms, they have got another thing coming.
Jtaylor, as you say, rush the transaction through, before the real value of OIP is revealed through its drilling.
Even a scrip fire-sale to ESG would be a better result than this. Far better.
Y
OIP Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
