I am starting to feel if MGV won't let WB do due diligence on their drilling results then maybe it is time to walk away. It would appear the only reason MGV shares didn't drop below 20c was WGX bought their 2.4%. and propped them up earlier this year.
Walk away gives a chance for MGV shares to return to their true value,whatever that is over time. Their mill won't be built either way.
In many ways I would prefer WGX to just pick up stray tenements for CASH and no shareholder dilution of future profits,rather than pick up companies that some think have interesting ways of operating.
Seen the odd company pay the price for buying with lack of disclosure on behalf of the acquired entity and its often been terminal to the acquirer. Focus minerals was one with a hostile takeover and a hidden royalty from memory.
IMHO WGX is easily worth more than 4x the true value of MGV .
WGX Price at posting:
$1.39 Sentiment: Buy Disclosure: Held
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