MinRes must be thinking that the more drilling Wildcat does at Tabba Tabba, the more expensive it’s going to eventually be to takeover.
I have no doubt the Wildcat Board intend to hammer the area asap with many more rigs and $80 million in the bank.
Azure has now established a starting point for valuations at the exploration level, but Pilbara Mines gives another reference on what a tier 1 mine is worth when in production.
If Wildcat could only establish a non dilutive potential pathway to production and sales,
Its probably as good a time as any for MinRes and Wildcat to sit down and explore whether there could ever be a mutually beneficial fast track joint venture development scenario.
MinRes could develop fast, can operate, knows Port Hedland and has the capital
WC8 Price at posting:
85.5¢ Sentiment: Buy Disclosure: Held
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