I suspect that the resultant NOT/FWR share price would see an immediate one dollar appreciation due to the merger and would represent a floor one dollar higher than the recent history of Noront prices.

However I do think that both companies provide an added premium due to merger which is hard to estimate as to what the added amount would be.

Liquidity? Why that question? It should be a none issue. Is there a liquidity problem with Noront shares? I say not in the least. Liquidity was raised as an issue by FWR Management when they were short of negative issues to say about Noront.