Much Clearer Direction NowAfter listening to last weeks video with Paul West we now know Paul has signed off on a dozen
Non-disclosure Agreements with Companies who have expressed interest for Casino and had meetings with him. I'm sure some of the Companies of interest are tire kickers and some with serious interest falling into the mid-tier and Major classifications.
As well Paul clarified in the video the present funds they are raising will be used to take Casino to the shovel ready stage. I seem to recall Dale Corman stating the same message, go through permiting and take Casino to the shovel ready stage before the sale to maximize share holder value.
Soon WRN will have all the funds necessary for permitting($30M) & to take Casino to the shovel ready stage when essentially the Casino property will be fully derisked and the sale of the Casino property should fetch a maximum sale price.
Looking ahead, we shall see where the negotiations lead into Q1-23 with RT and if any of these dozen Companies under the N/A will initiate a bidding competition for Casino as per the Partnership Agreement condition permitting such an event.
IMO, WRN is doing it right in all areas and they will not be giving Casino away for a $3-$6 sale price.
I have always stated Casino would be sold for double digits and I don't expect RT to buy Casino unless their prepared to pay the price.
Worst case scenario, if RT, or any of the Companies under the N/A's are not prepared to pay WRN's sale price WRN will take Casino through permitting and to the shovel ready stage. In the mean time, this will allow the market metal pricing to correct, our MC to increase, before a sale is completed in 4 years time when Casino's sale value has increased substantially.
Blue