RE:RE:RE:RE:RE:RE:RE:RE:Not badEmptyNester wrote:
WRN and RT signed a CA last year, and word of it never got out. WRN went through more studies late last year with M3 and have drilled more holes. If I'm understanding the timeline here, I believe all the "extras" have been done since the CA was signed.
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If most people believe the PEA is already in their hands, maybe the delay now is due to them agreeing on a final deal?
You're on to something here. The CA was signed (now) 19 months ago, so November 2019. If I recall, it was around that time Paul casually mentioned in one of his presentations "maybe a little drilling next year, and we might update that FS. It's getting old now."
RIO came back to WRN wanting to talk deal (now 7) months ago (December 2020). Dale narrows down his ask, and per Dale, Rio didn't say no, they just asked for a few items before hand. Was one of those: not just simply updating the 2013 FS, but to go through the full exercise of PEA/FS?
Look what WRN announced in December 2020: Updating the PEA. A few of us (myself included) noticed that came out of the blue, and was inconsistent with WRN's previous communications of just redoing the FS.
I've thought before the PEA/FS was mainly to bridge the gap between our Market Cap & our Asking Price. Glad to see I'm not the only one!