Western Copper and Gold Corp T.WRN

MSD/Paul at LME week

[jclarke042]

Listening now:

https://podcasters.spotify.com/pod/show/mining-stock-daily/episodes/Western-Copper--Gold-and-an-Important-Month-for-Casino-e2an1cs

[Pinegrove1]

Sounds like an extension with Rio, they probably go to 12.5%, do it with cheap shares and more dilution for us...  my guess. 

[jclarke042]

Definitely not a buyout. Right? No silliness about NDAs, knocking on other's doors (how sad), other interested parties. But when we're negotiating from a relative position of strength re our cash balance, he means we can wait out until either: 1. Copper market improves, or  2. Certainty on the power situation A risky proposal, if you ask me. Neither are guaranteed before the $$ runs

[IvanRo]

It was a bit of a nothing burger for me. No buyout, most likely extension and some of the usual blah blah that everyone is happy / excited. Positives, we do have cash lots of it and enough for 3 years (after this year's heavy spend),  Copper prices are a temporary dip if that trading house rumour is to be believed, they are expecting an announcement from the Yukon Gov before end of year

[Sooner]

i stated as such in an email to Paul/Sandy about a month ago. I totally agree...if we can't get them to buy ALL in the open market at least buy 1/2 or something!!!! Stop the dilution already..... my question/comment below to Sandy/Paul.  Sorry for the stupid questions below, but would appreciate some insight: What prevents WRN from using all our cash in the bank to start buying up

[jclarke042]

"Will be talking to them as we get closer to expiry on how to move forward." I LOL'd. I'm old enough to remember "gosh, I don't think Rio will need too long to make up their minds."

[Sooner]

yeah -- that was direct quote from all the Dale "worshippers" out there....who thinks that he is the greatest.... what a total failure of a prediction....off by a LONG shot!!!!! I guess he doesn't understand how Majors operate at all....if he did we would have been part of Rio about 2 years ago now.

[gratvalyou]

Rio is parasitic they will leech on as long as they can,look at Copper Fox & Tech We will attract no other suiters with them procrastinating , their hesitancy displays uncertainty. If Rio is not confident why would another major step in? Loose all the pay checks and post "Care & Maintenace" and wait for an offer No need to advertise.Everyone interested knows what we have, its

[gratvalyou]

Teck sh!t cant believe i did that

[gratvalyou]

hmmmmm then this just pops up thoughts? https://ceo.ca/@newswire/western-copper-and-gold-announces-management-change

[jclarke042]

I assumed Ken was specifically brought in for final design. So, until I hear otherwise, no bueno. 

[EvenSteven27]

Ken Engquist  Chief Operating Officer Jan 2022 - Present 1 yr 10 mos Vancouver, British Columbia, Canada • Coordination with Rio Tinto technical due diligence team. • Responsible for development and exploration. • Leading corporate development, M&A, and due diligence. • Provide experiential leadership in financing decisions and negotiations of strategic partnerships. • Lead

[EvenSteven27]

Re-reading this:  " Coordination with Rio Tinto technical due diligence team."  This could mean DD is over. Cat in bag. 

[IvanRo]

Could also mean that he failed on M&A and there is no further DD work to do with Rio (and the Mitsubishi DD work not really being that substantial based on the fact that it's just topping up what WRN already have). As you say, too early to tell.

[Pinegrove1]

Can't tell if he quit or was terminated 

[Marine2]

Who knows,, Ken may show up on Rio's payroll,,  more money ? Surprising twists and turns in this saga ! If we only knew what was going on behing closed doors ? M2

[Pinegrove1]

Funny, I thought the same thing....

[Sooner]

or could be he quit because he has a better offer and WRN share price with options, etc not enough to keep him around....or could be he's retiring....or any of a hundred reasons. But i'd imagine non one is so arrogant that they think Rio needs his expertise to develop Casino.....

[jclarke042]

Grat, respectfully I'd rephrase as "Rio's 'indecision' is them saying to other majors, 'it's ours, what are you going to do about it?'" They'll offer when ready, whatever the catalyst. MMC is no threat, with their $2b market cap. Rio is 50x.

[gratvalyou]

yep ,...Care and Maintenace thats the ticket!

[dfwrgk]

I didn't get that from the interview..  not even an insinuation.   Perhaps your intuition is better than mine.. 

[B4rryLyndon]

"If we were to contemplate anything further with Rio it would be a new agreement with them." - Paul, circa 3.30 minutes.  I guess that could be interpreted as an innuendo for a new extension. But who knows what is going on behind the scenes.