re: Ann: Acquisition of Groote Eylandt Mangan...
i like to follow the big movers sometimes to see if there is a real reason behind the move and not just a pump and dump. i thouroughly read the announcement last night and spoke with a metalurgist who is familar with Groote Eylandt and BHP and the mining of Manganese from the Island and he is gobsmacked that a minnow the size of WTN has been offered the land surrounding the mine. Groote Eylandt is the 3 or 4th largest producer of Manganese in the world , and Manganese is a key component in the steel industry. WTN only has 15 million shares on issue and yes shares will increase after the deal but WTN management have pulled off a massive coup and i dont think the market has fully interpreted what has just transpired. There is a known resource of high grade manganese on WTN tenements which has BHP as its neighbour with port and sea access. WTN with a market cap of 4.5 million at 30 cents is undervalued. No doubt BHP will want the ground back and i think they will have to pay much much more than 30 cents to get it back. Will WTN start up there own mining plan , somehow i dont think BHP will let that happen. Well done WTN mangement team
WTN Price at posting:
28.0¢ Sentiment: Buy Disclosure: Not Held
