Check out late Friday’s announcement by Westgold Resources (WGR). Assuming the two main proposals go through (and I think there will be no problem in this regard), this will add approximately AUD5.9 million (including about 4.2 million cash) to WGR’s tangible assests, giving it a total of about 10.5 million (about 8.5 million plus in cash). At recent share price of about 10c, the mkt cap of this company is 7.5 million, with no liabilities to speak of and considerable tax losses.
You do the maths - arguably should be selling at I reckon 15c, I think it will go up once market catches on. WGR is largely Danny Hill’s vehicle, and he is no bunny.
I hold WGR so do your own research - I have vested interest
Angus
WGR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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