You ask me questions that you already know the answers.
Yes, BLR is in deep financial trouble as per the latest cash flow statement. If it was not for the WU loan, I believe BLR would already be in Receivership. This is my opinion based on the ASX releases.
If people are silly enough to sell at ,3, I will be happy to buy their shares. I think the top 20 shareholders list will have some surprises when it is next updated at the end of May. And those new entries will want the deal to happen. And of course Azarga is a huge supporter. My guess is over 50% now will vote for the deal and that is just the top 15 shareholders that I know about.
As for buying WU stock. If I buy BLR and convert into WU I basically double my investment. Not many opportunities these days to do that. Then I will watch WU move higher in price because it has permitted mines and mill access. I am playing this for 2-3 years, not 2-3 months. Once the WU-BLR deal is done, I will then buy WU in the market.
I think the deal goes through easily. I am even more confident now that I was 2 months ago.
