Thread, My understanding is that the claw-back is for 75% i.e. if exercised, WGR would be free carried through to mining (as you indicated)at which stage they would contribute their share (25%). Would appear to me that if Anglo is really interested in Rover-1, it would be better value (at current market cap) for them to make a bid for 100% of WGR. Saves them outlaying cash to take a look ($36m you estimate), they get all other acreage, including WGR's Explorer 108 lead/zinc resource, uranium interests and 19.9% of Aragon Resources plus control of WGR's cash reserves ($20+m). Makes sense to me when the current market cap of WGR being just $75m. If Rover-1 is too small for Anglo and they let option lapse, then it is still a win for WGR. So a win-win whichever way. K.
WGR Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
