WSA 0.00% $3.86 western areas limited

Great daily chart today going up all day and hit daily highs at...

  1. 9,894 Posts.
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    Great daily chart today
    going up all day and hit daily highs at close 3.09
    the snapdown yesterday reversed and sellers yesterday sub $3 got Punk'd

    Im betting on 1-7 stock split and 20c sweetener as cash & a CEO COO CIO Director role for Lougher in IGO with existing FF mine managers retained.

    If AF is trying to buy up and make it more expensive for IGO then I dont see this working either as he needs to get to 25% and another 20M shares or $150M cash to get a SOA blocking stake, a similar 20% stake he flipped at AGO years ago for a small gain.
    Even if AF gets to 11% they can dilute him down later & he becomes unpopular & forced into the SOA if 75% the shareholders agree to it and vote against AF anyway, he looks like a party spoiler.

    A blocking stake is really only good if the minority shareholders dont support a merger, but with an SOA, its a shareholder backed approval at an EGM of 75% so unless you have a 25% stake it cannot be stopped if the WSA BOD and shareholders vote for it.

    In AGO 9% of aussie holders fought the dilution and yankee banks in Ginas hostile bid & he could have blocked that t/o but AF flipped his 20% anyway for an extra $10M gain.
    Here its not hostile but mutual looks like.
    Has AF even got any good advisers left?
    Doesnt look like his tactic is worthwhile or can win at all.

    The merged entity will be a $10B powerhouse Super IGO and Creasy the Nickel King.
    Last edited by tomboy: 26/08/21
 
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