RE:How the deal is valued...Found my answer in the transaction presentation:
Transaction values Eastmain at $121M or a 137% premium to last close § After adjusting for ~US$46M assumed value of SpinCo shares from independent valuator
So (Auryn MC - 46MN US for non canadian assets) is how we get the exchange ratio.
I dont think it's that bad of a deal. Sucks for the long terms a little but theres still big potential in Auryn's assets and Bigger company means easier financing. A $15MN raise will do wonders for exposure