WSA (ASX) Why I think that if IGO bids it needs to be at least $4.00 per share.

Originally posted by CEOChair: ↑

IGO yet to make binding proposal for takeover target Western Areas

Questions are surfacing in the market about IGO’s intentions for Western Areas with it yet to come forward with a binding proposal for its takeover target.

Western Areas, currently worth $955m, has seen its share price fall sharply in the past week, prompting some to wonder whether the lithium miner has lost interest in the nickel miner.

However, others say IGO’s strongly performing share price suggests a deal is imminent and that the fall in the Western Areas price is linked to poor results.

The thinking is that IGO can improve the business.

Meanwhile, there is talk that one or two other bidders are waiting in the wings to buy Western Areas should IGO opt not to move forward with a proposal.

IGO told the market on September 21 that it had started due diligence on Western Areas.

The Perth-based company said at the time that it would progress due diligence over the coming weeks, but that there was no certainty a definitive transaction would result.

That was six weeks ago, and it is thought that the Western Areas camp is still waiting to learn of IGO’s intentions.

Some IGO shareholders are said to be relaxed about a deal not progressing with Western Areas, given that it would be happening so soon after the company has purchased a stake in West Australian lithium mine Greenbushes for $2bn.

Western Areas is advised by Rothschild & Co and Goldman Sachs, while IGO is working with Macquarie.

https://www.theaustralian.com.au/bu...s/news-story/556f38501a1033de09ddc1e1cedcad34

>$2.3m Exercised Puts just after 7am on IGO this morning… maybe the postman got wind of the offer in the letter box?

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i do not understanding why IGO or Twiggy has not bought out WSA

There is so much more value in WSA assets than the management report in their market updates

For example in their production output figures going forward they have Forrestina stopping producing nickel at 2026

Where is New Morning in these figures - mgt answer waiting for environmental approval can't put new morning in

so what be positive and assume the mining is going ahead !!!

Where is Bio Heap production in there forecast production - answer no where to be seen

They told me they expect to produce 1,000 to 1,200 tonnes of high grade per year for 10 years - value one can put on this grade must be north of 30,000aud per tonne- mere 30M income per year !!!!

Mgt good operates useless sales people

Imagine what Twiggy would do with these assets