Ann: Trading Halt, page-22

"I think it will open substantially down. This smells of empire building by management. I voted no to renumeration at the AGM. Unfortunately this management doesn't seem to care what shareholders think!"

@andy777,

Not sure how one can arrive at such a definitive position without having the details at hand.
What if they purchase those mines at cents-in-the-dollar of par value?

Viewed in probabilistic terms, the situation is one of:

1.) a distressed seller (not financially, but ideologically distressed), and
2.) limited number of potential buyers (of which WHC is the standout natural owners).

When the corporate planets line up in that manner, I think the odds are for a transfer of value from the vendor to the acquirer.

Not a guarantee, granted, but the WHC board is in a very good position to negotiate a deal that is favorable to WHC shareholders (and WHC directors are indeed under a lot of public pressure to squeeze the maximum value out of the counter-party which, remember, is rather indifferent to the final outcome.)

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