Relax men Did anyone actually try to read the news release from Western and make an attempt to read between the lines? Jeff and the board may not have released any specifics with who the bidders are or the price points at which they are entertaining however, what they have told us is the expression of possibly selling off the companies assets individually exceeding what most shareholders would expect. This statement signifies that we are closer than most think and that Yabucoa carries significant value. We may see part of Western's assets sold to Brookfield and Yabucoa sold to another player.
"Our strategy going forward is to complete financial close on Yabucoa as this event will add substantial value to the shareholders of Western Wind. Financial close by our lending group is deemed to have removed all the risks associated with the project and implies a substantial increase in value. This facilitates not only attracting a much better price for the company as a whole, but an even greater price by the splitting of assets to multiple buyers.
Additionally, Western Wind's four operating projects bring in enough revenue every month to substantially reduce debt and increase shareholder value. Western Wind will be sold in an expeditious and sound manner and time is on the side of the Western Wind shareholder.
We strongly believe in Mr. Legault's objective of having a Board supported approval of an acceptable Western Wind bid and the door is still wide open between Brookfield and Western Wind."
Good luck longs,
Fastlane