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$3.86 western areas limited

The trading today with Wsa definitely felt like news can't be...

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Teddybear123

3,130 Posts.

361

24/09/21

18:07

Post #: 56334488
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Originally posted by tomboy: ↑

3.00 holding here
market thinks IGO is going to bid.

Who wants 3.60
who wants 4.00, it doesnt matter, its all an expensive paper scrip swap.
7.5B into 1.1B fits in nicely

Remember IGO paid $2.2B for SIR with a quarter of the JORC but higher grades & production & triple the mill capacity now 43% of its revenue.
Fact remains, WSA JORC average is low grade & the mill is very small, Flying Fox is running out and its production & grades have dropped last year 4.2%/20kt to 2.9%/16kt with a loss.
Still flying fox is still producing and cosmos odyssey is lower grade.

▪ Mine production for the quarter was 4,147 nickel tonnes, impacted by re-sequencing of the Flying Fox mine schedule into lower grade zones and lower grade at Spotted Quoll
▪ Mill production of 3,756 nickel tonnes in concentrate with recoveries impacted by the lower average head grade
▪ Unit cash cost of nickel in concentrate increased to A$4.46/lb due to reduced grades and lower ore production tonnages that increase fixed costs per tonne of ore mined and milled

IGO will make a bid soonish ~3.60 imho.

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The trading today with Wsa definitely felt like
news can't be too far away especially with on a few occasions when Igo was dipping and Wsa was very strong and in the Green .

WSA Price at posting: $3.03 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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