Not totally true there Whaler. It really depends on the ratio of NZZ shares you get from ISM. So if its a 1 for every five ISM shares then it should be 1/5 times the NZZ price per share. Not just a simple addition to get your real value. The same with MM depending on when the terms will be released.

Only if its a one for one ratio can you simply add the two different values.

Then if you really want to get crazy, keep in mind that there are other shares that were issued before the IPO's. So ISM shareholders did not get all of the Jasper property as they owned before.