Ha ha, my call months ago was IGO would bid for WSA & get it easy, a done deal, today WSA BOD accepted the bid UNANIMOUSLY
AF BHP ignored as i called it also.
no one else joined the data room nor bought on market except AF yet he will need to buy another 40M shares on market or counteroffer to maybe block the bid but its too late, AF was ignored just like at Noront & ravensthorpe whose BOD also approved lower bids
i called an all scrip bid for 3.60-3.80 but a bond based bid is genius as no dilution to IGO holders at all also gives IGO control over PAN 21.3% & likely mop that up later then BHP may bid for IGO later but dont need to bid for wsa as they get 50% offtake from both & likely 100% of cosmos offtake & cut jinchuan out, so igo bhp are both big winners from this deal & AF, Jinchuan, chinese the losers.
AFs Ni empire dream in tatters imho Creasy the new Ni King, as i called it 4 months ago imho
its a done deal, price irrelevant almost.
WSA Price at posting:
$3.42 Sentiment: Buy Disclosure: Not Held
