For as long as we have 200k oz Aussie producers trading above 1 billion market cap, I will think we are undervalued under 60c-inclusive of ramp up costs. I’m sure many people agree, we are trading down after a low liquidity period (albeit today with higher volume) and I think the smart money will scoop up some shares around this level.
If Wayne has eyes on us, he may not get a better opportunity than now. Even though WGX scrip is likely still on the cheaper side compared to other producers, he’s gotta be eyeing the synergies and potential ASX200 re-rate. WGX could be a 2B company easily after bringing SPR on board. Some of the capital exiting Evolution might be looking for a home, Wayne could provide that high market cap alternative to the market. 450k producers aren’t common on the ASX anymore.
SPR Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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