IMHO it's Gina buying up everything that moves on Strike. That way she can do the T/O here with the conditional offer, gain a major holding in Strike and have control of both WE and SE, plus the other bits of the PB that Strike own, plus the 50% of the tenement up north owned by WGO.
If she picks up lots of Strike at under 40-50c and Strike do a 1:1 T/O of WGO down the track with Gina owning say 50% of shares here, she emerges as the major holder of STX by a long way, meaning effective control of new fertilizer plant and gas for her IO projects, basically win, win for her.
If it doesn't go according to her plan, she still emerges as the biggest holder of both, assuming the 2 Scotts sell to her for whatever cash offer.
Basically setting herself up to be major owner of PB assets no matter what happens. It's also good cover to buy Strike while all the attention is on WGO. Look at the volume on Strike over the last few days. For her Beach is probably also on the agenda down the track..
All IMHO of course..
WGO Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
