RE:RE:RE:30 million WestGold Shares for MurchisonThere were two negotiations ongoing with WestGold in mid 2020.
We....shareholders....were negotiating a deal in the range of $40 million , based on equity ratio of about 1 for 25 WGX when WGX was trading about $2.50....
Cathy intervened on that offer and would not accept it unless a future gold streaming deal was added at which point WestGold withdrew their offer.
If I recall correctly, the equity arrangement was to go to shareholders as a long awaited dividend.
Operating metrics have not gotten any better for WestGold other than a recent equity raise that has boosted their cash to $100 million....and intended mainly for inorganic growth synergistic to current mining operations .
There is excellent synergies between our Murchison assets and WestGolds.....imo by far the best of what might be potentially available, including what has been uncovered todate by limited U/G drilling for, say , NOA 7/8 where grades 50% higher than WGX have been delineated .
With cash flows soon to arrive from Selinsing sulphides, with little in the way of underground delineation drilling beneath Selinsing pits undertaken todate and with two new discoveries at Peranghi and Mentique, I feel we have sufficient projects at Selinsing to secure our future .
The costs of exploration and development of Murchison , if offloaded to WGX , can be used for earlier cash flows from our Selinsing assets....and we still get the longer term benefits of Murchison via our equity holdings..