It seems Westgold also followed Red5 in terms of timing of their offer. Both waited until after the GDX had bought in and pumped the share price higher before then using the relatively fully priced scrip for a deal.
There is a real issue in here with price discovery with all this passive money creating false value. Probably only going to get worse though.
News: WGX Westgold Resources And Karora Resources Agreed To Combine In A Merger, page-51
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Last
$2.88 |
Change
-0.020(0.69%) |
Mkt cap ! $2.716B | |||
| Open | High | Low | Value | Volume |
| $2.85 | $2.94 | $2.83 | $21.38M | 7.413M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 96607 | $2.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 15765 | 1 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| WGX (ASX) Chart |