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$2.42 westgold resources limited.

Ann: Withdrawal of Gascoyne Takeover Offer, page-10

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DimTheLights

434 Posts.

92

26/11/21

20:41

Post #: 57894491
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Originally posted by legaleagle88: ↑

joelstar

I dont see how you can describe the WGX offer as pennypinching.At both 1 for 4 and 3 for 11 it offered a near 80%-100% uplift to the GCY share price in the preceding 3 months.It is rare for a company to receive a t/o offering a 100% uplift in the value of their shares.Hardly penny pinching.What I dont see was the importance of requiring the FFR SID not to proceed.I did not and still do not see how this was a major impediment to the takeover.It is not as though FFR does not have some resources with a prospect of increasing their inventory.It seems odd that the WGX chairman talks openly about revisiting a bid when to do so means WGX will be bidding for an entity that has the very thing it said it did not want,namely FFR's resources.GCY has a mill that needs to be better utilised>Its attraction will diminish as the cost of building a similar mill decreases.Its asic is not good with its present resources and in the absence of finding higher grade ore another bid could be at a lesser price.I believe it has less than 12 months to prove itself in the eyes of the market.Time and drilling will tell.

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yup... i actually give them 3-6m tops... if not good resource found/proven in that time. wgx will come back with a low ball offer and get it.

WGX Price at posting: $2.04 Sentiment: Hold Disclosure: Held
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Last $2.42		Change -0.090(3.59%)		Mkt cap ! $1.146B

Open	High	Low	Value	Volume
$2.46	$2.47	$2.38	$7.744M	3.196M

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No.	Vol.	Price($)
1	5000	$2.42

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Price($)	Vol.	No.
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1	5000	2.420
6	88917	2.400
2	25738	2.390
4	30164	2.380
6	41854	2.370

Price($)	Vol.	No.
2.430	5864	1
2.440	62756	3
2.450	18714	2
2.460	100415	18
2.470	4666	1

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