Ann: Westgold and Karora Complete Merger, page-6

Whilst that was the likely plan before WGX looked to merge with Karora, I just don't believe it is anymore.
WGX 3.0 has for me, a much more logical target in PNR.... Karora has assets on both sides of Norseman, particularly their Mt Henry/Selene asset with over 1/2 a million ounces. Looks logical to me a long life base load pit for Norseman. Plus, geography wise, it fits perfectly within the enlarged WGX profile, of adding a 3rd operating mill, just like it's Murchison assets. Another 100k p.a would push WGX well over 500k p.a. Plus, PNR is basically 1/3 the price of SPR.... sure, it's not going to be quite as profitable as SPR, but... there would be clear synergies and efficiencies of scale.




That all being said, RMS now have a WGX 3.0 with a bigger market cap than them for the first time..... perhaps another reason why RMS moved so quickly recently... they know that potentially, WGX now has more firepower than them, especially if the company sees a re-rate with their enlarge production profile.