Yes, I also calculated 91 - 92 cents as being the offer based on 44cents a g.j
I was asking if someone had calculated this on the other thread but you have come through with the goods so thoroughly.
I would be shocked if the raising didn't proceed. Time frames of the R.I are tight and Westside need the cash - even to last them through the months of any official takeover bid.
Westside will put the cash to good use and that is good for the potential acquirer anyway - so win-win if you ask me.
The reserves upgrade certainly well and truly counter-acted the negatives of a dilution, so the reserves increase announcement helped Westside 2-fold:
1) To put pressure on an increased bid. 2) Soften the market up for a dilution.
I do like the way Westside are playing their cards and I am hoping there is more to come with 91 - 92 cents being the base expectation...
(sorry if this appears to be a ramp, i'm just sayyying)
WCL Price at posting:
40.5¢ Sentiment: None Disclosure: Held
