I think I heard Richard say at a Macquarie day that he would be happy/settle with three production centres?
Speculating...
WAF could target PDI? Although PDI environmental permitting looks risky despite being in Guinea - given that the Bankan deposit is literally located in the Niger NP. Bankan would add +250Koz p.a over 10yrs (ex likely depth extensions) taking WAF's 480koz to 750Koz in 27/28. PDI m.c ~A$400M and they at the PFS stage - so not an impossible task. Plus there are some obvious location/language synergies allowing a scrip deal. And WAF balance sheet looks good despite the fact that we all going to get dunked on with a -10% open tmrw.
Having speculated. I do not like this raise. Blows out my already faltering 'Cap-raised-on-to-Takeover' ratio for this cycle. Drats.
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