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1. AF flipped AGOTwiggy clearly learned from this mistake and...

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SnowballKelvin

276 Posts.

31

07/01/22

21:53

Post #: 58717321
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Originally posted by tomboy: ↑

snowy, I dont agree,
look at the past history and it tells you whats going to happen in the future.

AF flipped AGO a "strategic asset" in which he held 20% of all shares to Gina.
He lost ANL in which he owned 30% & did a deal with the devil yankee bondholders & glencore & lost the lot
Do you think Gina was perturbed by AFs holding of 20% in AGO, no way.

BHP made a bid for Noront knowing AF had 20%-37% and you think a pidly 6% in WSA or 12% in POS or 13%% in MCR will block them or deter them? NO WAY, they are desperately after control and ore feed.

BHP clearly werent perturbed with Noront were they.
They are the BIG BOY with $130B MC & $30B cash at bank
They can outmuscle AF & Gina combined.

What will BHP IGO or AF target next is the real question.
They have all said or shown they are on the acquisition trail.
Clearly the market thinks IGO MCR PAN due to their recent runups.

WSA POS ESR & stranded juniors left alone looks like, so looks like WSA is a done deal.

I just cant see whats in it for BHP to t/o WSA from IGO which they already get 50% of the ore offtake and control the revenues already via tolling some of the Jinchuan ore also & as they hold prime position at cosmos via Mt Keith mill nextdoor.

I also cannot see why BHP would want MCR whose offtake and revenue they control 100% already.
There is only 2 left effectively uncontrolled by BHP in Australia.

WSA BOD & its largest LTH PPT have already agreed unanimously to the IGO bid.
They clearly do not want BHP nor AF or these 2 are not really interested.
If AF really wanted WSA, he would be at 20% now and on the BOD and blocked any agreement for a 75% SOA versus a 90% t/o on market but he hasnt.
Increasing his stake from 4% to 6% is too little too late imho.
And what does AF gain from taking WSA, a big headache, working for BHP & angering IGO/BHP/BOD/ Macquarie boys even if PPT might be happier with more money for it.

AF hasnt managed a Ni company since being CEO of ANL 2003 & how did that one go?
Thats why I reckon IGO has got WSA.

BHP is eyeing off IGO PAN POS imho. What else is left?

Expand

1. AF flipped AGO
Twiggy clearly learned from this mistake and gone all in Noront

2. BHP & WSA
BHP only controls 25% of WSA's concentrate (50% Forrestania). Cosmos still remains a question mark

3. AF to block POS takeover if it happens
Much cheaper & easier to block POS (306 mil) than WSA (1.1 Bil).
POS Ownership:
- Black Mountain Metal 11.9%
- Wyloo Metals 11.7%
Yes. BHP got 30 Billion but AF will make it super expensive (refer to Noront)

4. AF too late to block IGO & WSA deal
Agreed. Things will be different if AF holds 15% instead of PPT

WSA Price at posting: $3.44 Sentiment: Hold Disclosure: Held
2 Upvote

1 Great analysis

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1. AF flipped AGOTwiggy clearly learned from this mistake and...

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