Hi Spec,
You maybe right about the 50% discount but you seriously cant expect the market ( MGV holder ) to think they are getting 40c and therefore are happy to roll into Westgold.
If it is as undervalued as you state ( I don’t necessarily agree ) does it not show failed tactics of Westgold to start a scrip bid from a position of weakness …
I am still sticking to its a desperation bid for short term ore supply but time will tell … which than counters your 50% value argument …. you may have another think about your thesis. Just trying to be constructive.
Enjoy your weekend.
Ann: Offer for Musgrave Now Open and Completion of Despatch, page-3
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