RE:Simple opinion I am pretty sure when Mr Sandeep was looking at WRN as a investment to get involved in he had a plan. The plan was to end the reason Paul / WRN was kept under Rio’s spell and that was the need for funding / MONEY.
Sandeeps plan was to bring in $50 mill so WRN was not depended on Rio and open up the Casino property to other interested parties . BHP and others may be an interested buyer. Sandeep may be in for a quick flip @ $5.00 CDN.
M2
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Sandeep may be in for a quick flip on WRN, bought 2.2 million shares @ $1.35 knowing that if he brought in $50 mill this would stop Rio from stringing WRN along with needing more money.
Mr Sandeep has 5 million units/shares to cash in @ $4.00 to $5.00 !
Not a bad pay day for a little over a year's work !
Something to think about ?
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WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO
Feb 22, 2024 - News Release
The Company also announces a C$3 million private placement (the “Placement”) with Mr. Singh for the purchase of 2.22 million common shares at a price of C$1.35 per common share.
Yes 2025 is the year ! Thanks to Mr Sandeep bringing in $50 mill !
Rio will need to make a decision on a buy out next year ?
Rio will not have the upper hand on other interested parties, WRN does not need their money this time ! ($75 mill) !
Mr Sandeep is all ready talking about WRN options for when Rio option runs out. (I'am thinking buyout offers from other interested parties) 2025 !!!
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"Rio Tinto will have certain rights until June 12, 2025,"
The Company and Rio Tinto also entered into an amended and restated investor rights agreement, whereby, subject to certain conditions, including ownership thresholds, Rio Tinto will have certain rights until June 12, 2025, including the right to appoint:
one member to the Casino Project Technical and Sustainability Committee
one non-voting observer to attend all meetings of the board of directors of the Company
one director of the Company, if Rio Tinto’s ownership increases to at least 12.5%
up to three secondees to the Casino Project
and:
the right to participate in future equity issuances to maintain its ownership in the Company
a one-time “demand registration right” and “piggy-back registration rights.”
Under the amended and restated investor rights agreement until June 12, 2025, Rio Tinto has also agreed:
not to sell, transfer, offer or otherwise dispose of any shares, subject to certain exceptions
not to acquire any securities of the Company, subject to certain exceptions
to abstain from voting or vote any shares in favor of each director nominated by the board of
directors of the Company for election by shareholders
M2