It was very sneaky and strategic indeed. I feel that it was a fed up investor.
The issue i see here, is that WC8 doesn't have much action going on atm. This qtr we should see the PFS, then June qtr the DFS and that's about it. Also December qtr results should be out next month. I think they want to preserve as much cash as possible which is a very wise move, IMO.
Currently they have 74mt @ 1% which is enough to do the economics on it.
In my view, the only way the SP will appreciate, is if the LIT price starts appreciating. Other than this, we'll remain between .20 and .30c.
In regards to a TO....this is a fantasy! We would need to be well and truly over 84c (what MinRes paid) for it to be even considered, (unless MinRes was the bidder but i cant see that happening anytime soon with their current issues). WC8 is located in a prime mining location in the Pilbara which is a BIG TICK.
All IMO.
WC8 Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
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