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Actually, its pretty clear that the ASX is acting in shareholder interests for once.”
For once??? So you are saying the ASX has singled out and targeted WFE......agreed!!
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Without the ASX asking questions, it would have never come to light that the advertised 'US $80m plant' actually had the value written down to $0 before being rewritten to US $30m (of which WFE is only buying 50%).”
It did cost the owner around $80M to build new which is reflected perfectly in the METS Report. Either way who cares what the book value of an asset is worth, it’s the same plant. If this saga wasn’t dragged out by the ASX we would be trading and the plant getting upgrading mods completed or operating by now. So yes the ASX is responsible for singling out WFE and taking, my goodness, 9 weeks for the “second round” application. Targeted behaviour if ever I’ve seen one......
“It would have never been known that WFE's own financial model gives an NPV, after a lot of additional money is spent, of less than the current market cap for WFE's 50% share pre-dilution.”
LOL Gotta love these MC vs NPV comparisons. The current MC was established before the plant acquisition was ever announced, you’ve forgotten the cobalt leases in Canada and JORC’d iron ore next to FMG. You have to add the acquisition value on top using the correct business model for owning and operating a cobalt plant, which is many multiples above $30M.
By the way dilution comes in stages of securing the JV and production, which means the MC will miles up from here before full dilution takes effect. 500% increase in SP versus 10-20% dilution?? Let it happen I say
Funny how it reads incorrectly like Oz all over again only on a new thread
Shift work anyone?