Major re-rating of Merlin about to commence., page-22

It would take a lot
For example 3 billion shares on issue now. 5c = 150mill MC
10c 300 mill MC

LOM is approx 110mill MC now and they have been finding huge diamonds. Latest is a 46ct pink diamond. And that did not do much for the share price.
So it would be nice to see med trading higher but the amount of dilution now I can't see it getting to equal value of LOM any time soon unless they can find diamonds of equal size and recurring.
Also the diamond sales still a no show at med. The last report did show quite a lot of smaller diamonds found in the quarter. Which is good to see but valuing it higher or as equal as LOM would take some serious discoveries and of course sales... which we are yet to see on the quarterly.