Ann: Bidder's Statement, page-32

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CashedUpBogun

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23/06/23

16:28

Post #: 68442133
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Originally posted by fitnfam: ↑

The share price has dropped to reflect existing shareholders will only own 80% of the productive assets they once had before this deal.
A bit more to go I suspect.
80% of the cash in the bank will effectively belong to others
80% of the $17?m cash paid upfront recently for repowering instead of financing,which presumably could have bought cheap MGV shares.
80% of the vehicles fleet owned worth $200m
80% of the current income coming in every month being used to grow the business.

In many ways I would have preferred they just kept buying shares until having to make a takeover offer.
They collected 2.4% for well under 20c a share.

My only hope is WB if doing aerial surveys over our own tenements,has noticed something no-one else has next door to justify such shareholder sacrifice.

I am at a loss what could spark this offer unless it was maybe a mirage of a new superpit.

Note deteriorating sentiment.
Feeling like its AMI and Darques all over again.

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if the ground had SuperPit potential EVN would have taken out MGV by now - their JV activities have gone dead which is a telling sign. I'd also expect WGX wouldn't be making this move without a nod from EVN.

could have got GCY for the same price- better orebody and a bloody huge mill go figure!

WGX Price at posting: $1.35 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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