The way I see it it, if MR wanted to increase the pro MR camp...

The way I see it it, if MR wanted to increase the pro MR camp and dilute the non MKO holders he would strike a stronger deal for MKO, not the other way around.

That said, as the majority of MR's holding is in MKO I am sure he has tried to strike the best deal he could for MKO which was about 50/50 based on the relative shares prices at the time of announcement but still doesn't seem right. I still think the deal grossly undervalues the plant which has a replacement value of $100m versus total valuation of MKO of $38m including resource but 60% of MKO holders in favour so far. Offer documents will hopefully tell the full story.

A merger does increase certainty and clearly we will all benefit as a combined entity and I can see current mc of $90m increasing to more than $300m within the next six months giving MKO holders equivalent of about $0.35 plus.