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Originally posted by mazatlan1
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addtionally, if my memory is correct (someone please check/verify), the current shareholding @37.5%? (minority) with no say or control in the affairs of Uruguay, these all (62.5%?) being in the other party Schuepbach (from memory), and no funds it was pointless at the time the write off decision was made. But now... with >200 M + MC and ease of access to new funds, the shoe is on the other foot and WGO could buy out Schuepbach and go it again with a proven heavy duty rig, and 100% control, or to share the risk, after buying out, farm part of it out to another operator with a proven rig and background, a bit like what looks to have been done here with the WE2 farm out to Strike. Schuepbach look like havent done anything with it because most likely based on their past form with the old PRL they have no funds themselves, and they likely wont be able to do anything much with WGO having 37.5% blocking shareholding (eg major transaction veto) in the permit. WGO now having access to $$, now hold all the cards.All IMO.
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I wouldnt want WGO management to even consider further exploration in Uruguay until we are both cash positive and cashed up. Even then I wouldnt be overly keen on the idea.
