And Kirkalocka as well as a near new SAG MILL also has existing approvals for handling Cue sands etc as part mill feed.Maximum of 15% blend. One could suspect that WGX had plans to provide that ore before the previous owners went under. When they did then those ore stockpiles were free to commit to a tilt at GCY to keep that mill going. Hence When GCY mill ran out of ore and shut it no longer had an immediate or future value to WGX.
The original owner of the said mill who sold it to Japanese interests,also held Southern Mt Magnet tenements which I suspect were recently acguired by RMS after having the takeover cost quickly ramped up by WGX. THEY WERE ACQUIRED by the target FROM A SMALL INACTIVE EXPLORATION COMPANY just two months before WGX stepped in with an offer. RMS takeover target having only paid a minor part payment on the full outstanding cost. WGX taking a tidy profit on its quickly acquired holding in the target before its initial offer I believe.
DYOR + DYODD wheels within wheels
SPR Price at posting:
58.0¢ Sentiment: None Disclosure: Not Held
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