what is this merger all about??? is this tactical or based on...

what is this merger all about???

is this tactical or based on increasing Au market exposure or diversify mineral portfolio or what?

it's good that SP is bouncing in a right direction but looks like WBC's main objective is to raise further capital than anything at this point.

Back in march of this year WBC cancelled the HOA with GBZ.ASX due to GBM couldn't secure the $10mil loan to proceed with the HOA.

http://www.wcbresources.com/sites/d... - WCB TSX - GBM Termination of Agreement.pdf

As at 31 Dec 2016 WBC's cash position is staggering $46k and needed to issue $150k private placement to settle a debt.

Financial statement:
http://www.wcbresources.com/sites/d...016 12 31 WCB Financial statement - Final.pdf

Private placement:
http://www.wcbresources.com/sites/d...WCB TSX - GBM Share issue and Announce PP.pdf

Having said, single positive news around WBC is the Misima island released in Aug 2017:
- An Indicated Mineral Resource comprising 1.3 million ounces of gold and 6.5 million ounces of silver
- An Inferred Mineral Resource comprising 1.0 million ounces of gold and 7.3 million ounces of silver

http://www.wcbresources.com/sites/d...X - Resource Upgrade announcement (002)_0.pdf


Au contract - $1,343 (USD)
http://www.nasdaq.com/markets/gold.aspx

So the logic tells me KSN just funding WBC's project now? is that it?

I'm just generally confused thesedays....

Would be good to get some further insights to the merger details.