RE:OUTYes, the premium was disappointing. According to Canaccord, this deal was accretive to IMG by over $100 million, so MXI management definitely left considerable money on the table. Of course some of the accretive value is simply due to the synergy of IMG owning the whole thing, in which Diakha now looks like a minable deposit. Regardless of rehashing the values, in my view .25 should have been the minimum. For MXI shareholders, there was some good fortune of a pullback in IMG share price so anyone who didn't rush to the exits are able to get out at a bit more reasonable price.
You are right that there is little value in holding MXI at this time, as there is about zero deal risk and it now simply trades as an IMG proxy. That is partly what I did. I liquidated most of my MXI and flipped part of it back into IMG and B2Gold to maintain gold exposure, although less than I had before (which was too high and needed to be corrected).
By selling MXI and flipping to IMG, your broker will give you margin if that is of any value. Personally, my largest holding right now is cash so it's not important but broker margin is pretty cheap financing!