To all those bashing the deal, I challenge you to read this article:

http://findarticles.com/p/articles/mi_pwwi/is_200609/ai_n16755782/?tag=content;col1

For the record, Gold Eagle got bought out for ~$1.5B. The new ONT is said to have 92M outstanding shares. This would value each share at ~$16.30.

Key points from the Southern Star/Exall merger:

SS/EE:
"Consolidation of the Highly Prospective Gold Eagle Property in Red Lake"
RMK/ONT:
Consolidation of the Hard Rock/Brookbank properties in Beardmore/Geraldton

SS/EE:
"Gold Eagle will have a market capitalization of over $400 million,increased trading liquidity, a larger, more diverse shareholder baseand an enhanced profile both domestically and internationally providingit with better access to capital."
RMK/ONT:
I anticipate that the merger will happen somewhere around $.90-$1.50. This would put the new company somewhere around $100 million

SS/EE:
"Gold Eagle will have approximately $15.5 million in cash to pursuefurther exploration and development of the Gold Eagle Property."
RMK/ONT:
The new ONT will have around $8M

SS/EE:
"Gold Eagle will have approximately 93.61 million shares outstanding ona fully diluted basis resulting in an ownership split of approximately53% held by former shareholders of Exall and 47% held by formershareholders of Southern Star"
RMK/ONT:
The above deal basically follows the RMK/ONT to the letter

SS/EE:
"The transaction is conditional on approval from a minimum of 66 2/3% ofthe votes cast at the Exall and Southern Star's shareholder meetings,the receipt of all necessary regulatory and court approvals and othercustomary conditions."
RMK/ONT:
Same deal.