You may have to email WGX for the up-to-date details.
My recollection was that at one stage around 40% of the shares of MLX were held by what I believed were Chinese interests in Asia. WGX was spun out of MLX 2-3 years ago. I recall one or both of them did sell a lot of their shares, so it could be a much lower percentage now.
The presentation from the 2018 AGM lists these companies - see
In combination they then held 17.6%, one is Singapore based while the other one is from Hong Kong.
That is all I know.
Blackrock, in addition to Ruffer, also own a lot of shares so I expect they will work to ensure we get a reasonable price if there is a takeover. I would accept a takeover at $3.50+. The share price is very likely to hit $3.00 next year and I want to sell for premium. With a falling AUD and likely rising USD POG the AUD operating margins will increase making WGX more profitable. AUD POG 2500 seems a certainty in the next 12 months. All we need is for WGX to meet its operational targets. There is also upside from future success in drilling up more more gold near their 3 plants.
loki
WGX Price at posting:
$2.18 Sentiment: None Disclosure: Held
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