OK I was a bit miffed to see the metalX boys look after themselves with an additional 15% raising but the extra cash = more drill rigs.
Andy Beckwith is going to go nuts with the drill rigs now.
When he was working for Anglo he personally desiged the clawback agreement that he is now dealing with as CEO of WGR. So he knows it intimately. By now I'd have thought he also has a fairly good idea of roughly how big the WGR reserves are.
My view is that as its out of his hands as to whether Anglo steps in or not that he's trying to put the company in the best possible scenario regardless.
If Anglo don't claw it back - WGR gets a fully defined JORC resource & soon. If they do - WGR gets 3 times their expenditure to that date and combined with their other similar leases in the area - thats just a war chest.
Nice to see my interests as a shareholder aligned with the CEO's. Very rare these days!
WGR Price at posting:
46.0¢ Sentiment: ST Buy Disclosure: Held
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