RE:RE:RE:Next weekPath Forward:
IMO the market isn't thinking a deal is coming next week, am inclined to agree (but there is always a very small chance something could happen). WRN has a .92 correlation to Copper and .72 for Gold spot prices, basically copper moves this stock and Copper moved over 3.80 and our SP went down - suggests a few things.
I think there will be an extension of the current RIO agreement (region of 6 to 12mths) - no additional dilution and no further cash, afterall WRN don't need a blocking major in case of anything else happening.
Why is this my view...
1.) RIO aren't going to eat the total risk of developing Casino by themselves plus all the other bits like BC grid connect etc.
2.) MM came to the party a little late, and have their own technical analysis to do based on available info, recent drilling assays plus MET (that's probably a 3-4mth lead time right there).
3.) An announcement / committment on the BC Grid connect will remove uncertainty and improve project economics especially after inflation probably ramped up CapEx costs.
When RIO is happy with Grid Connect and when MM is happy with MET etc then I think there will be serious discussions between WRN, RIO and MM.
On a side note, I think we are seeing the light at the end of the tunnel re: high interest rates (it's not over yet - inflation still has a bit to go), a soft landing for the US plus interest rate reductions will weaken the dollar and copper will move up accordingly and if the copper correlation holds our SP will too.
DYOR and GLTALH