RE:RE:RE:Jan PresentationA mental excercise:
All figures in USD, assume CAD 0.747 USD
I am a large mining company, I understand that I will spend either ($500MM + $2.7B) or ($1B + $2.7B) to buy WRN and to build the mine, the numbers are the buyout price + startup capital costs.
I can't spend the $2.7B until at least (1) there's a road to the Casino site, and (2) all permits are granted.
Tell me why I am in any hurry to buy this company now?
Of course, the explanation becomes much more compelling if a public offer is made by some other mining company that's not me. But absent that public offer, why should I spend anything now?
And can you see how little it may matter to a large mining company what the buyout price is? They are thinking about committing either $3.2B or $3.7B to get this project up and generating revenue, which is ultimately what they want.
Does anyone have insight into why I might be motivated to buy WRN right now? (absent another public offer for the company, of course)