Welcome WGR sh to the exciting world of ....... tin
Just read last Q report for WGR - why on earth would they want to merge with anyone? DFS nearly done, cash on hand, project finance coming, great resource ...... 'I know what we really need to complete the dream; let's dive into the entrails of a tin mine'
Must confess to be speaking from a position of ignorance re CMGP - maybe they need that $70m cash from MLX to get over the line in spite of Credit Suisse being at the table?
Not a sh of WGR, but from a cursory glance I feel like I'd need to be on crack to go for this if I were - just my opinion.. As malmanu states, without a locked in cash equivalent ratio to maintain a reasonable premium for abandoning control to a majority sh, I would be feeling underwhelmed. Woohoo WGR board.
Apologies if I'm missing some key angle here. Good luck WGR sh - will be an interesting IER from BDO and a fun meeting.
WGR Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
