Can’t recall, but I think they had written down the value of Rover down to Zero on the balance sheet. So I think technically, it should have no impact on the share price, especially since there is no WC given by Westgold. but the algo’s might be programmed to treat it like a dividend and hit the price. But that would be a short term blip only.
This is good for Rover as they will now have a decent budget, focus and energy around development. Instead of living off the crumbs of Westgold.
now if we can get rid of the mining services company, I think it’s called ACM, then Westgold’s balance sheet can be focused on its core.
WGX Price at posting:
$2.10 Sentiment: Hold Disclosure: Held
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