Ann: Western Areas & IGO Agree Increased Scheme Consideration, page-33

We still haven't seen the IE report from KPMG.

I'm sure their claim is that it was only a "draft", but even if it's only a draft, if Dan and the old fellers can make decisions about the value of WSA and advise that the new deal is acceptable, then why shouldn't they show it to other shareholders.



But even more horrifying, is the fact that WSA have only received a single conclusion from KPMG that the offer was not fair nor reasonable. WSA has not given any indication that KPMG advised a range of values for WSA. So on that basis, it is reasonable to assume that KPMG did NOT provide a range of values for WSA. One would think that WSA would disclose it to us otherwise, IMO........yet they have gone on and agreed to the $3.87 without any further updated advice from KPMG!

Further, how is it possible that WSA directors can declare (and recommend) that the revised offer is in the best interests of shareholders. This recommendation can only be based on the conclusion, which the WSA BOD has taken by itself, is that it is fair and reasonable for shareholders. But on what basis did they come to that conclusion?

Well, its now April 19, the price of nickel is staying at elevated levels, nickel stocks levels are dwindling by the day, MCR EV now exceeds WSA EV.....I could go on...

Ceteras parabus, this offer will not get up come vote time...and it will have been basically 1 year of wasted time money and effort.

Here's a chart showing MCR (in Blue) compared to WSA (candles) starting 18/8/2021.

I'm appalled at the current BOD actions.