Reads well if nothing else.
No long tirade of why MGV is failed company.
Just a clear succinct reason for the offer and why to accept.
WGX is arguably the most leveraged play on the ASX to the price of gold (for a small/mid tier producer).
Less than 6 weeks and WGX will be 100% unhedged to POG, unlike all its peers, except GOR I suppose, but... ouch, they just announced some serious operational issues.
IF gold moves higher, WGX may see a similar outcome to what BRB had, which saw their premium rise far about the initial offer price.
Still could be other parties wanting to bid etc, but... I am just looking at WGXs offer.
Right now the offer is about $0252 cents a share for MGV holders. Not much of a premium, but... then it does not take into account that for me at least, WGX script is highly undervalued. By perhaps 50% to its peers. So.... all things being equal, the offer is closer to $0.40 if WGX re-rates to fair value. All speculation on my part.
Ann: Offer for Musgrave Now Open and Completion of Despatch, page-2
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Last
$2.67 |
Change
-0.060(2.20%) |
Mkt cap ! $1.266B | |||
| Open | High | Low | Value | Volume |
| $2.65 | $2.68 | $2.62 | $4.537M | 1.706M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9800 | $2.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.67 | 72551 | 3 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| WGX (ASX) Chart |