11m of that cash pile goes straight to IGO in break fees.
High cost operating environment at the moment and they have a heavy capex budget, WSA will raise cash within the next 6 weeks if there is no takeover you can bank on it. It's why it was an attractive sale for management, they know they need a heap of sustaining and development capex to make their assets work, IGO is best placed to do this, but hey sure WSA could do as well but shareholders will have to endure the dilution and discounted cap raise that likely comes with it, just my opinion folks
BHP ain't knocking, it's just IGO
WSA Price at posting:
$3.65 Sentiment: Hold Disclosure: Held
