There will be no counter bid. It's simply not going to happen. If OST walks away, WPG sp will be smashed.
Having the mines is useless if you can't get the ore to port.
The answer is all in the infrastructure. OST owns the rail, the port and processing in the area. They also jealously keep IO juniors (including WPG) out of using Whylla (even for big fees).
If the Chinese step in and tries taking over those mines we will have FIRB issues all over again, the Hawk Nest (Defence issue) will rear it's head again despite the recent relaxation. OST is Aussie !
I'm taking the WPG proceeds and invest in OST (a screaming buy IMO).
At 12 MTA, OST will be shipping as much as Atlas Iron by end of 2012.
May as well rename it as One Resources.
WPG Price at posting:
$1.13 Sentiment: None Disclosure: Held
