What I'm trying to work out is how WGR will afford its Rover project development concurrently with the CMGP. Rover needs about $100m and let's assume AAG does also.
Assuming 50/50 debt to equity WGR will have to stump up $10m in cash just for CMPG, plus their own commitments. If they bring in another development partner and don't participate they'll lose effective control of the company.
It will be interesting to see what develops. A merger with RMS makes sense to me on many different levels, but whether that ties in with WGR/MLX's grand plans I do not know.
JT
AAG Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
