Post by
Diamondboy123 on Jan 20, 2023 9:36am
While you all chatter in theory
The trading patterns are horribly negative. Huge sell lots. Feeble bids. All with gold and copper and silver and moly flying high. For something to be imminently bought out etc the temperature is quite mild.
Comment by
IvanRo on Jan 20, 2023 2:27pm
Am on the fence, well slightly leaning towards Rio wanting certainty around permitting. In saying that, would Rio want to influence or add their corporate weight / experience to the permitting to ensure its successful? I would have thought they would but they seem like a lazy corporate. Note: I still think we get an offer by late Q2 / Q3 (although doubt it will be Rio)
Comment by
Diamondboy123 on Jan 20, 2023 3:25pm
Clarke if the feel was serious funds and high net worth folks would be all over this. When we withstood lots of volume selling at 2 bucks Canadian I thought we were turning. Now it seems the opposite. No hunger. No hurry. Just feels ugh. Know what I mean? Still bought on both us and can side recently. Just not Uber excited as I was. Hope we get surprised soon.
Comment by
nmpappy78 on Jan 21, 2023 2:30pm
Sooner: A very good case can be made that WRN has a minimum of $150 BILLION worth of metals in the soil, not countimg the silver, moly, 2 new drillings, 85 miles of scanning, and 2/3 of the property undeveloped!! And you are suggesting an $800,000 million purchase price (200,000,000 WRN shares times $4.00!! I just do not get your logic for a mile that could produce for 100 years....
Comment by
nmpappy78 on Jan 21, 2023 2:38pm
P.S., Sooner: In my "common sense" approach, I use the formula listed in the mining literature that uses the NPV divided by the number of shares to determine the purchase price. In WRN's case, that would be approximately 5,000,000,000 (NPV) divided by 200,000,000 (WRN shares) for a figure of $25 per share.
Comment by
nmpappy78 on Jan 22, 2023 2:15pm
Sooner: It is my impression that the NPV (Net Present Value) specifically addresses the costs associated with mining the metals and is a legal document to assure the buyer of the accurate costs. Therefore, the profits can be estimated based upon the NPV.
Comment by
nmpappy78 on Jan 23, 2023 12:58am
Thanks, Heywood! Like you I am a long time (2006-7) holder of WRN and am also in your camp regarding the future price of WRN. I have extreme confidence in Williamson and Vitton because of their experiences, qualifications, and skills, in addition to the wisdom of Dale!! I can wait....
Comment by
EvenSteven27 on Jan 21, 2023 6:27pm
excuse my ignorance, but why do we keep getting compared to TRQ? aren't we more like Great Bear in many ways? i mean rio has only a 10% stake. room for others to jump in. this was never the case with Turquoise.
Comment by
jclarke042 on Jan 21, 2023 6:36pm
We're nothing like GBR. They were a news machine and always a reason to keep buying with the frequency they hit good targets. Share count under 60m. We issue press releases with the greatest reluctance, containing the least amount of information as required by the IIROC/SEC. This keeps up a more apt comparison is going to be Keno Hill.
Comment by
Sooner on Jan 21, 2023 6:40pm
For my part, I always bring up TRQ in this forum because it clearly shows how Rio makes decisions relative to what they perceive as a far offer during acquisition. Bold Bataar communication directly to TRQ shareholders---- it's a great read and will give you some understanding about the process they use. I am NOT comparing assets in any way...since that is immaterial.
Comment by
jclarke042 on Jan 21, 2023 6:48pm
Take each bold section***
Comment by
dfwrgk on Jan 21, 2023 7:40pm
We do have the ability to Vote No... Correct?
Comment by
jclarke042 on Jan 22, 2023 7:28am
Considering the volume has been consistently low (ie., sub 400k shares) also suggests this is all just machine/algo trading tracking the copper price. It bears repeating: in the 3 weeks prior to Rio 2021 announcement we saw several days of >1 million volume.