Sound Familiar The Board of Directors of Waseca has today initiated a process to identify, examine and consider a range of strategic alternatives available to the Company, with a view to maximizing shareholder value. This process could result in a sale of Waseca, a sale of a material portion of the Waseca's assets, or a corporate reorganization among other alternatives. There are no guarantees that the process will result in a transaction or, if a transaction is entered into, as to its terms or timing. Waseca has retained the services of RBC Rundle, a division of RBC Capital Markets to assist with this process.Resource
Sprott Resource Corp owns 19% of Westifre and 81% of Waseca, must be them wanting to know what there actual value is in the compamy, below are the results Rundle's findings
On October 18, 2011, SRC announced the commencement of a process to consider a range of strategic alternatives available to Waseca, with a view to maximizing shareholder value. Since that time, the Board of Directors of Waseca has considered corporate sale proposals, proposals for a material portion of Waseca's assets and a corporate reorganization among other alternatives. After careful analysis, consideration and advice from its financial advisor, RBC Rundle, a division of RBC Capital Markets, the Board has concluded that the most beneficial outcome for all shareholders is for the Company to continue to operate independently and pursue its existing business plan which has achieved significant organic production growth.
With current production in excess of 3,500 bbl/d, positive monthly cash flow and a strong balance sheet, the Company is well positioned to continue building on its current success.
Most likely our Bod will come to the same conclusion and it will be business as usual, any thoughts?