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

First 6 Last

Share
Profile

Follow
qdos

275 Posts.

10

28/05/18

10:38

Post #: 33332751
Share

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?

Expand

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
Upvote

0 Great analysis

Reply

Top Stories

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer’s drug could change the game

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched stocks for Week 47, 2024

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 11 more messages in this thread...

First 6 Last

Add MGV (ASX) to my watchlist

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

Top Stories

This biotech stock raised $11M in a risk-off environment. Its Alzheimer’s drug could change the game

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched stocks for Week 47, 2024

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Sales growth pushes Lovisa's fortunes (and shares) upwards

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Featured News