How do you figure $140m cash is a waste when WSA has $200m cash spend coming up over the next few years? If there is"surplus cash" at this stage, the company has said they may give a dividend at the end of this half yearly. $140m cash may attract interest, too.
$1.50 is below last NTA. Meanwhile, WSA has improved Odysseus. Can't see why it would be less this period.
You asked elsewhere re an IGO takeover. IGO has about $100m cash now and $200m debt. No doubt IGO could use WSA's substantial cash holding, but it would be highly opportunistic at this time. The Directors couldn't possibly accept a takeover. In a few years, WSA could easily double its share price, adding in Odysseus as an operating mine. They are experts in reducing costs in times of low nickel prices.
WSA Price at posting:
$1.90 Sentiment: None Disclosure: Not Held
