WGX

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$2.90 westgold resources limited.

@speculator101 … I didn’t expect anyone to outbid the Wgx offer...

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wassa

3,616 Posts.

1565

03/07/23

08:52

Post #: 68580569
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Originally posted by wassa: ↑

Hi Spec,

Good post with decent counter arguments. For clarity I am not a current holder of MGV or WGX but a previous holder of both … traded MGV for a profit as I didnt see much short term upside given the widely consensus view of managements lethargy and the stand-alone operation risk. Sold WGX around $1.50 as I considered the momentum technically was too great after the lows, fundamentally I do think it is ‘potentially’ underpriced … why potentially, well, as I have alluded to many times WGX planning is akin to a schizophrenic ward imo.

Whilst the newsflow of the next ‘big thing’ may excite the retail holder with countless announcements it would be worrying to institutional investors wanting some clarity of a longer term plan imo. I am also sure they are cognisant that WGX haven’t made a culmulative profit since at least 2016 … both these certainly discount the sp imo.

If I was a small MGV holder I would of sold on market for 30c and just bought WGX stock forgoing any potential improvement in offer … we can probably both agree WGX shouldn’t/ won’t offer any/much more and MGV are rather stranded between a rock and a hard place. As for larger MGV holders they really have little choice to accept the offer, sit it out or stump up further investment for a stand-alone prospect and the risk entailed. I don’t envisage any counter offers … and agree I don’t see EVN being the saviour.

Whilst the improvements in gold sales for WGX will be advantageous it comes at a large cost to current shareholders with WGX / them taking on the ‘fully priced’ upfront risk … to answer your question who WGX should buy, I don’t think they should buy anyone but incrementally develop what they already own in smaller capital intensive / less risk steps … after all it is WB who has championed several projects as the next “great go-to” prior to the MGV idealology.

Whilst I do consider WB has shown good business acumen in some areas just not sure how the Board can maintain credibility changing direction what seems like ever other month.

Nonetheless, like others, I enjoy the dynamics of takeovers and this is just beginning so should provide some constant newsflow and corporate entertainment. Good luck as a holder.

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@speculator101 … I didn’t expect anyone to outbid the Wgx offer … I was wrong …. RMS at 34c.

WGX back to buy GCY or AME ?? Lol.

Last edited by wassa: 03/07/23

WGX Price at posting: $1.44 Sentiment: None Disclosure: Not Held
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Last $2.90		Change 0.060(2.11%)		Mkt cap ! $2.735B

Open	High	Low	Value	Volume
$2.95	$2.99	$2.90	$8.124M	2.777M

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No.	Vol.	Price($)
5	90129	$2.89

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Price($)	Vol.	No.
$2.91	103	1

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No.	Vol.	Price($)
5	90129	2.890
1	17470	2.880
2	32470	2.870
1	1100	2.860
5	30400	2.850

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2.910	103	1
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@speculator101 … I didn’t expect anyone to outbid the Wgx offer...

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@speculator101 … I didn’t expect anyone to outbid the Wgx offer...

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