Couldn't agree more! I have been waiting for the penny to drop on the benefits of this merger (as our mate Holy suggested) ... but so far nothing has convinced me that it is 1) a fair deal for OIP shareholders and 2) designed to achieve anything but save the cash strapped GGX from insolvency. I agree that GGX's leases are of little value and that OIP shareholder's assets and cash will be diluted and devalued by this merger.
And so far as the valuation and prospectivity of OIP's leases goes ... the fact that so little of it has been explored and tested in the last several years since OIP floated despite adequate cash is a scandal IMHO. If coal deposits worthy of development as CSG are discovered subsequent to the merger I reckon ASIC should investigate the directors for fraud or at the very least deception!
VOTE NO!
H
OIP Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
