Yeah and selling down investments substantially....
1. They sold MGV holdings to the tune of 15m shares or ~$2.5m even though they been supportive and classed the investment as a strategic play
2. They sold the 11.6m shares they got from G1A for the Higginsville paste plan even though they said they would hold (~$2.25m)
3. They’ve sold down their investment in RNC nickel (owners of Higginsville now) to the tune of ~25m shares or ~$12.5m
That’s a total >$17m of investment sales to go along with the $45m placement done a couple of weeks back. Now you could make the argument WGX are simplifying their portfolio has has been trend, but I simply don’t buy it and think big bell and the contract mining business is torching up cash.
WGX Price at posting:
$2.17 Sentiment: None Disclosure: Not Held
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