Ann: WGX: Westgold - Musgrave Cooperation Agreement, page-6

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qdos

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28/05/18

10:38

Post #: 33332751
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Originally posted by qdos ↑

Well played.
1. Raised needed funds at a premium (my back of the envelope numbers say the price is at 6.8c (21% premium to Friday close including a 15% dilution kicker)
2. Brought in well regarded operator (Peter Cook & Co) to assist. Peter has an enviable reputation of not only investing in good potential operators (i.e. miners not explorers) but also of sprinkling a little magic dust on the operations of mines he runs/owns (e.g. when he bought old Avoca gold assets from Alacer he covered the investment amount through taking costs out in his first year, and then still managed to improve mine performance). Great on all accounts for MGV as they'll soon reach a decision point to drill out a resource to build their own plant or drill to toll treat at a nearby mill (or a mixture of both). I cannot remember and need to run shortly - but are any of those local mills owned by Westgold? Either way, between MGV management and WGX, there's no shortage of connections and skills to pull off a gold mine.
3. Gold price remains strong, and AUD weakness means gold investment story has a long way still to go.

What will they prioritise the spending on? What will WGX want the money spent on? Likelihood of success?

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Just saw it is at 7c.... didn't see that there were 2 announcements. I just read the last one on the ASX which had value and %. Even better.

MGV Price at posting: 6.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: WGX: Westgold - Musgrave Cooperation Agreement, page-6

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