...my view after some research...
the merger could make sense for both...
Acacia is good on the exploration front and has 300 million$ in cash... they could combine the resources at Houndre... at the operational side Acacia makes good progress..cash costs are sinking... its possible their AISC comes down to 900$ per oz in 2017... combined the 2 companies could produce 1.5-1.6 million oz p.a. in 1-2 years at AISC below 900$ AISC and grow further without auqisitions..Houndre south has over 2 million Oz of gold to date..Acacias exploration at other properties shows good progress + they have another possible mine at feasibility stage...
a 1:1 merger would be OK for me (+ a 10% cash payment for EDV-shareholders) ....our large stake investor Sawiris could take a part of Barricks stake (anti dilution option) ...the combined company would be able building ITY CIL and rise the stake in this mine to 85-90% ...
at POG 1200$ the current SP of EDV should be the low case.... both companies trades at discount at current share-prices...
interesting times here...