Strike,

I get your overall point.

The issue I am thinking of is, if the takeover means thatthe benefit of the junior is "washed out" in the new bigger co.

In the event the market offers two equal junior opportunities A (OZN) and B (Tyhee) for example both with high potential and both hammered beyound recognision, I could take advantage of a 280% pop in A and reinvest and further average down in B.

In normal conditions, you can not do this junior "arbitrage" efficient and effective due to low liquidity of the juniors.

I get your overall point.

Euro