"The mine is an asset. It’s value must be included and reflected...

"The mine is an asset. It’s value must be included and reflected in any takeover offer."

If you are building the mine with debt, that debt cancels out the value of the asset while you build it. It's zero sum until the mine is producing. The component/value of the mine built with money raised from equity would add a net postive to a valuation, ie any postive net value of infrastructure less debt on the company balance sheet. It would depend at what stage of the build the company is at when the TO comes.

I'll look more carefully at the timing of the share purchases relating to those substantial holder notices to see if you are right.

I know some here still think there is nothing unusual behind the price action, that it's just normal and in hindsight a predicatable consequence of the mine funding impost.

If that is the case how do you explain that the US$ gold price is up $50 since the 5/12/2018 when the mine funding package was announced but the WAF share price is down?

I suppose we shall see if and when this gold rally continues if the "dark forces" theory is correct or not.

How high would the gold price need to go before we see a reversal in the chart? Esh