IMO it's a case or merge OR die for BPT / DLS / SXY . Their...

IMO it's a case or merge OR die for BPT / DLS / SXY . Their staffing overheads are really hitting their margins at the low POO prices. A merged CB entity could cut staff and improve profits, and get better access to cash for funding future exploration, rather than the hide under the cover approach to capital conservation undermining future exploration. I hold all 3 so I have a declared interest. These mid cap guys will not survive 3 to 5 years unless they do merge. The problem will be greedy shareholding thinking their patch is more rosie than it really in and want an unjustifiable premium. Better to come together and be warm and survive the winter, rather than be left out on your own in the cold, with the potential to freeze to death. Some companies will freeze, because either their SH'sand or their MD / Management think their assets are a golden challis, when in reality they are nothing, if you can not get them out of ground and sell them and convert them to cash in the bank, and distribute that cash to shareholders.