Ann: IGO: Update - Western Areas Scheme of Arrangement, page-13

Risky from WSA, they have promising ore in the ground and a marginal mine, IGO offer was fair but probably needed a sweetener, blind Freddy could see short to medium term upside had increased.

If IGO pull the bid WSA are either going to have to raise cash at a 15% discount
to fund existing projects ASAP or risk falling 15% and then having to raise cash at a similar discount.

At first glance looks like WSA have the upper hand, but if there is no other bidder, IGO will eat this alive