RE:RE:RE:RE:RE:3.05 meters at 21.87 g/t at jp rossWhy would a takeover bid come in?
I think Agnico probably invested money to help fund exploration and get exposure to the entire WGO portfolio, in my opinion these results appear to suggest that exploration is not turning out as well as expected. Sometimes things don't work out in the expl world.
I think Kinross got pennies on the dollar from WGO compared to what Kinross originally paid for the White Gold Project. In my opinion Kinross is a smart gold mining company and would have almost certainly done a full evaluation of the project before deciding to ship it out at a loss. To me this seems like Kinross trying to get something for an project that would probably otherwise be stagnating in inventory.
I am assuming WGO wanted this somewhat moth-balled White Gold asset to help justify what I consider a bloated market-cap.
To me nothing suggests a takeover of WGO anytime soon.
If I am not mistaken the only major WGO project we havent heard expl results from is Mascot-Betty on the east end of the Kaminak trend. Curious to see what comes of that.