Looks like another setup like the first three. Old mine, closed when prices much lower. More resource but probably lower grade than the cherrypicked original. Plant closed but still there, can be refurbished. Same region. Shallow resource present. Grades quite good. Would not be surprised if WMX offer some sort of merger deal when resources proven up more, or take a punt at a lower price on the hope they will be proved up. It would generate a much earlier return than AME could manage alone, without the need for painful and not so popular capital raisings. WGX has a big cash pool now. WGX management probably think a business wit growth happening as distinct from steady state is more attractive to goldie punters. Win-win?
WGX Price at posting:
$2.31 Sentiment: Hold Disclosure: Held
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