Will WestGold make an offer ? So far West Gold has made three unsolicited and conditional off-market takeover offers for Murchison assets that it dearly needs for its 1 million tpa excess milling capacity.
It lost all three to higher offers but made money on the shares that it acquired prior to the offer.
Our Murchison assets, now gold flowered by the magnificent oxide discoveries that ODY has made in Turnakura , is exactly what WSX needs....high grade open pit resources that offers very low cash costs to offset the increasing costs of its very deep underground mines .
So, its almost certain imo that Westie will make an offer for ODYthat, if inadequate, will stimulate a higher offer by another suitor .
This will force MMY to make a decision about its Murchison assets....which will be part of the deal.
Along with Turnakura, these assets fit perfectly with Westies needs.
My call is in the range of $150 to $ 175 million range based on using the last three acquisition prices..
We are very well positioned to monetize our Murchison assets..or more to accelerated production in situ..