80% acceptances? ... moot question. loki makes the valid point that 'what MGV has is a resource, not a reserve' which begs the question why, after staring at a 400koz resource since 2019, MGV directors haven't seen fit to expend money to get a ( mineable) reserve? And how do the loyal MGV shareholders like Charlie Arve who will have seen the October 2019 announcement of ' near term production' now respond to the emerging possibility that control of MGV slips to Westgold ? Surely, Ramelius management has examined the question , over the past 4 years of the commerciality in the Musgrave resources . Now Ramelius has but a few weeks to seize the opportunity to either make their own bid or engineer a tolling agreement or other transaction with MGV. I am coming to the view that if WGX are willing to chance the question of the mineability of the MGV resources [ not reserves] then the big shareholders like Charlie Arve( with 9%) will accept and accept early and with that capitulation from bigger shareholders the small shareholders follow suit . Maybe 80% acceptance is realistic!
WGX Price at posting:
$1.49 Sentiment: Buy Disclosure: Held
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