Totally agree, number (2) is the kind of scenario that needs...

Totally agree, number (2) is the kind of scenario that needs cautious exploration. Definitely not (1) & (3).

And yes, for sure it is likely that WGO SP was in the toilet because it was single asset with no control and clearly deficient management. But that doesn't in itself preclude other factors also being in play as the various predators sought to execute their TO strategies. Quite the opposite, they would almost certainly have actively sought to encourage/take advantage of the negative sentiment prior to launching their respective offers/raids.

The MIN raid and flip to Gina absolutely dubious, but evidentiary requirements and lack of regulatory appetite to really scrutinize matters of collusion and opaque association, mean that these strategies proceed unhindered in the vast majority of cases.

If you really want to see an extraordinary example of corporate dirty tricks, do a bit of research into the takeover of Nexus Energy by Stokes/Seven around 10 years back, and the tactics employed. Nexus held the Crux field as its key asset - look where Crux is now, Nexus shareholders got zero.

I'm not suggesting STX is in the same boat as Nexus was back then, but just highlighting the kind of tactics the billionaires club are happy to employ to get what they want on the cheap.