Ann: OAU: Westgold Strategic Alliance and Placement, page-30

It is starting to feel like the original hunter is realising it is the hunted.
Due diligence goes both ways.
What if Westgold now via in depth due diligence now knows the true vulnerability of all of Ramelius's operations including its plant conditions and future potential and thought---
"Nah",you must be joking,give it two years and you'll be worth less than us.
Face it Westgolds play for Musgrave's only upfront value was a pit a year or so away with developments costs to add to a purchase price and outstanding $million dollar payments for Mt.Magnet's Southern tenements.
The Southern tenements would also come in handy only with a bit of exploration if successful in a few years and if you planned a play for Ramelius sometime after that.
Ramelius's play for Musgrave was about securing tenements south of Mt Magnet that had produced but had no modern prospecting for 20-30yrs.
The moment Musgrave secured those tenements Westgold was buying shares,one could imagine MGV would have been happy just to flick those tenements for say $50m to get enough money for its small mill.
Some gamblers just double down hoping by upping the anti they ultimately win.
What if that WGX's plan???

Westgold forced the issue with a takeover offer and who could blame Musgrave mgt,if the offer was leaked as WGX were DELIBERATELY???? not giving their directors options any value - which one could imagine would p.... them off and encourage them to reject the offer and go elsewhere.

So one could guess being a dominant party WHO would have insisted on a standstill agreement between Ramelius and WGX.
I am guessing the party that would be wanting to part with the least being Ramelius.
WB must be laughing his socks off if that was the case.

In hindsight the North American visits by WB and the setting up of dual listing with the reason "because 20% of our shareholders are from there" could very much have been part of a greater plan to SIZE up Westgold in preparation for then having a go at Ramelius after its production peaks in a few years.

IMHO-A couple of years tops to settle down and Ramelius would have that MGV pit developed ready to supply Westgold a bit of close proximity sugar.Part of future merger synergies to be had at the expense of Ramelius sharehoders.
Nothing like letting someone else bear the development costs when you made them pay top dollar for the site.

IMHO- Karora was an opportunity out of the blue for Ramelius to spend some money and some further money on development and exploration,or to nudge WGX into making a deal.
It didn't work,because does Ramelius really do either of those things,real from scratch development and exploration???????
For WGX maybe it was a case of if Ramelius won't risk the input,we've got the skills and the cash is coming and it speeds us on the way to a large enough market Cap to have a go at Ramelius when the time is right.

DYOR + DYODD fun times ahead.