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But many investors on the HotCopper forums have expressed ire with the newly mooted July deal, namely because Capricorn gets to buy Warriedar at just 15.5cps. That, in the eyes of many users, is too low.
While the board has unanimously recommended the deal and the Warriedar share price was up just shy of +20% in late morning trades to just over 14cps, the news has boosted what’s already been a solid YTD run for the company.
And that solid YTD run is likely what is motivating relative outrage from shareholders who have seen the junior gold player just start to get its groove.
Were things just getting started? (Market Index)
At least one user expressed a belief that Warriedar could easily climb to a A$1 billion market cap. While that’s a long way off, such conviction underscores why some shareholders may be appalled.
Warriedar has been busy this week at the Noosa Mining Conference, giving a presentation at the event back on Tuesday.
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