Western Copper and Gold Corp T.WRN

Mitsubishi Materials

[IvanRo]

Well well well... this is interesting and pretty much the same basis of Rio Tinto's strategic investment.

CAD 2.63 is USD 1.91 - so a small premium (9%) attached to the investment over today's price of USD 1.71. MMC market cap is USD 21bn.

Implications, having another strategic investor onboard is both good and bad. Good from the perspective that it may increase competitive tension with Rio. Bad from the perspective that it may cause the Three Stooges effect of all trying to get through the door but getting jammed i.e. nothing happens.

Other points are that it gives us an additional $21m dollars cash, on top of our existing $21m ($1.3m cash on hand and $20m short term investments). If we had enough cash to get us through permitting before the latest Strategielc Investment... Not only does this remove the need for a cap raise down the line but also will allow for further exploration and development of the license area i.e. Canadian Creek etc.

I think this is good news on balance but does add some doubt about takeover timing.

[Sooner]

It's good news for sure! More than one interested party. Gives signal to Rio to get moving if they are really interested! 

[IvanRo]

Sorry Typo, MMC market cap is USD 2.1bn not 21bn.

[gratvalyou]

yep a big 2% of Rio's MC and 1/2 our present NPV I dont see how this will do anything to intimidate Rio Why would Paul entertain this ?let alone set in motion. Am I wrong? thoughts? Grat

[Sooner]

kind of strange --- Mitsubishi Materials has 20,000 employees and Rio has 50,000. Mistubushi appears to have made OP of $0.4B usd last year and only has market cap of $2B usd? i don't think they are mining company but conversion into the copper product --- so perhaps the intent here is bigger and something we can't fully understand. Clearly I don't....but surely Paul and the BOD do...

[gratvalyou]

Good point possibly Rio setting up a buyer for the copper prior to any offer. The deal is already in Company's March Presentation from Leon @ CEO.ca  The EU plans to set up a "Critical Raw Materials Club", which effectively amounts to a buyers cartel, but this time for metals and minerals - the transition bill will be bigger than previously expected: https://oilprice.com/The

[Pinegrove]

Could mean alot of different things as is being demonstrated on the board this morning.  Thanks for the insight guys.  Whatever it means it tells me a number of things.  Management is not sitting on thier hands, they are obviously working behind the scenes and advancing the project.  We don't always know.  As someone else mentioned, it demonstrates that there