Hey Wassa, I don't really know WBs past, so I am a bit unclear about his openness to undertaking corporate action. I think one small potential 'tell', is AME, which is running on fumes and will need a capital raising within the next 2 weeks. If they raise at 15%, for $5-6m, that would require WGX to stump up almost $1m, to keep their 14% holding non-diluted. Perhaps I am over thinking it, but... I just struggle to see why WGX would really want to be putting money into exploration anywhere other than their own assets.
I was also pondering about the focus on diesel to gas. In the recent presentation where WB spoke, he mentions that the Gas deal has been in the works for 12 months... I think it was 100% his baby, as he was sharing the role of MD for quite a while, so clearly was constrained in what he could make decisions on. I think its going to be an incredibly wise decision considering the price of deiseal right now (and into the future).
Finally... I still struggle to get my head around the 4mt available at Big Bell. That is basically 4 years at full production. So much sunken capital...! What would be AISC or AIC if it was going into a low cost plant like Dalgaranga...
WGX Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
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