It's one thing buying a mine, it's another thing to operate it....

It's one thing buying a mine, it's another thing to operate it. IMO to take possession of challenger, be it either MEU or WPG they need to have a good amount money and cheddar ready to throw through it. WPG is banking on the leftover scraps from KCN, where as MEU is banking on potential in its tenements. Neither are guaranteed - How you assess the risk between the two is up to you.

The good thing though about WestPoint from an development point of view is that it just needs to be decent grade compared to the rest of the current GC prospects to be viable - thanks to challenger pumping out dust. It doesn't need to be one solid, 24 carat, 2 million tonne nugget, as the share market expects.

Another thing to consider is if the situation arises that WPG has no worthwhile dirt and MEU does, what's to stop them waiting them out - mines of Moria styles - and then pushing the dusty skeletons off the consoles and taking over?