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in absolute terms WGO was far cheaper than STX. MIN is the...

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Baraka

1,675 Posts.

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18/01/23

12:56

Post #: 65751520
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Originally posted by khopchai: ↑

So where to from here - with around 20% of shares remaining in the hands of retail investors and "hedge funds" - I can't see neither STX or Hancock changing their offer with so little remaining on the table. Any increase in offer to try mop up say another 5-10% will come at a huge cost as they'll need to pay up to all of those who have already accepted. The only logical party to try and mop up a few more is MinRes or yet another party... again unlikely? Would MinRes be wanting to lodge a takeover offer this late in the game? I think probably not, and they'll just sit on 19.9%. I also can't see anyone else entering with not much to gain. So, is this now a stalemate? The only chance of something significant happening is if one of the big three sell their share to one of the others.

But then again, the "hedge funds" who have been buying up and above 36c and up to just over 40c would be doing so with a high probability expectation of making a profit - so what is their end game?

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in absolute terms WGO was far cheaper than STX. MIN is the largest holder of PB land. Lead E at lockyer would have to extend into EP469 - they needed a seat at the table here IMHO. Far less land to clear to develop Lockyer and MIN would get a plant built quicker than anybody.

Inclined to hang on to my residual WGO holding - sold rest on market and got all of my capital back x 3. If it gets delisted happy to take that chance.

WGO Price at posting: 37.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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in absolute terms WGO was far cheaper than STX. MIN is the...

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