Western Copper and Gold Corp WRN

Minto Happenings

[jclarke042]

It appears whatever term sheet was being negotiated can't be completed in the near future, and PwC (the "Receiver") is moving forward with plans to liquidate Minto in the interim. 

https://www.pwc.com/ca/en/car/minto-metals-corp/minto-metals-040_290324.pdf

Page 7 starts summary of the 3 non-binding bids, including the bid that went through to term sheet. Bidder 3 is the one that entered final negotiations, summary starts on page 13. Interesting to see behind the scenes here. 

PwC advancing liquidation doesn't mean someone will step in, just they're done trying to manage the process. Two auctioneers are preparing proposals, and in the interim, several mining companies in & around the Yukon have discussed entering the auction as bidders.

[CopperAndGold14]

Thanks for providing this link. Bidder 1 had no chance - a BC company in critical minerals with a market cap of $30M. Bidder 2 had no chance - a seemingly hodge podge collection of mining people with only a vague idea of what the current and possible future of Minto could be. So that leaves Bidder 3, the one with whom a term sheet was agreed, and then a renegotiated term sheet. Any guesses who is

[EvenSteven27]

Bidder 3 could be WRN, but IMHO, it is much more likely Granite Creek. Tim Johnson had previously mentioned he was bidding on Minto. Granite Creek would be much more apt than Bidder 1 and.2, so they would have been a contender. Finally, the Price Waterhouse review mentioned a concern about who the operator be. Tim Johnson was also vague on this point. All around sounds like Granite Greek. Besides,