IMO this is excellent news and I've bought more WGO today. A combined entity developing the assets makes much more sense commercially that a JV. The offer values WGO at $0.19 based on STX at $.0245. This excludes any value liberated from sale of the Spanish assets.
For me buying WGO at $ 0.175 - $0,18 looks like an attractive risk/reward trade. There is limited downside IMO whereas there may be upside from (i) there may be a bid from another player (probably unlikely) and (ii) it would not surprise me if STX's price rallies over the next few days which will increase the value of the bid. I say this because IMO STX owing the whole Project (rather than than just 50%) makes a real difference - no more negotiating everything, reduced delays, no more borrowing via 2 entities, no more double management costs etc.
GLTA & DYOR
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IMO this is excellent news and I've bought more WGO today. A...
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