Acquirer? Target? Merger II?

"Net Cash & working capital of ~A$100 m and no debt." p.2

Starting here one can speculate two very different things: a) Buying a promising exploreco or a hefty land position, or; b) being bought with its own cash, an LBO.

Moving down the presentation to pages 13 and 14, two compelling cases can be made for WGX to be t/o. First, NST needs to feed its reserve moreso than EVN. However, does EVN want to maintain its dominant position solely through organic growth, eg. ERM?

A merger with the likes of: NST, RRL, SAR, SBM; would keep all assets in safe Australia. (I believe OGC has its hands full for now and is pausing for this cycle.)

From p. 5, with 430,000 oz/pa forecast by next year and 450,000 oz/pa the following year WGX by virtue of its address, AISC, and near half million ounce production moves the needle for all the super producers around the world.

The above factors will all serve to somewhat cushion the downside when the POG drops, while helping feed any frenzy on the upside via a rising POG fuelling t/o rumours.

Interesting times...

OV