Western Copper and Gold Corp T.WRN

ESE

[jclarke042]

Remember when a certain someone was all "we've been working on some parts of the application in the meantime," like it wasn't going to take most of next year to submit?
 

Someone else sure wasn't buying it: https://stockhouse.com/companies/bullboard?symbol=t.wrn&postid=35418771

As Larry David would say, Pretty....pretty...pretty good. /
/s

I'm with Q4 2024, instead of Q2 2023 as originallly planned, 18 months down the drain.

[Marine2]

It all comes down to, a good step forword for Rio & MM in what direction this is heading ! WESTERN COPPER AND GOLD PROVIDES GUIDANCE ON ENVIRONMENTAL AND SOCIO-ECONOMIC EFFECTS STATEMENT SUBMISSION AND INFRASTRUCTURE UPDATE Rio and MM will have more confidence in the time lines and rought to star building a mine ! If not a buyout,,, WRN is a .60 stock !  $3 to $4 B $$$ to build, only

[MetalMinded]

It's easy to be negative on this announcement...even for me who is generally positive on the long term prospects of this asset.  I certainly was when I first read it this morning.  Then I took a step back.  Perhaps there is more to the story than just the timeline.  It's quite possible that the submitted timeline is to wrap up a deal and let the new owner make the

[Marine2]

MetalMinded When you say "It's quite possible that the submitted timeline is to wrap up a deal and let the new owner make the submission." That's the right idea ,I believe that is possible. Also INFRASTRUCTURE UPDATE   The Carmacks Bypass Project (“Bypass”), the first section of the Casino Project access road and a $29.6 million investment by the Yukon and Federal

[IvanRo]

Anything is possible :-). It's possible, that Rio will not takover the ESE until it's submitted afterall they don't have the best track record when dealing with indigenous groups, ahem Australia.. cough cough... It's possible that they want the announcement on the grid connect before even thinking about offering... It's possible, they the wait us out for ~3 years while the

[Marine2]

IvanRo I think the Yukon Environmental and Socio-Economic Assessment Board (YESAB) would like the environmental and socio-economic effects statement (ESE statement) submitted by the company that will be building and operating the mine. Also And as far as Rio’s “don't have the  best track record when dealing with indigenous groups” Rio Tinto who owns the Diavik Diamond Mine in

[Marine2]

Lets hope Rio is interested in the Casino project ! Rio Tinto marks 20-year production milestone at Diavik diamond mine Link>>  https://www.mining.com/rio-tinto-marks-20-year-production-milestone-at-diavik-diamond-mine/   Rio Tinto (NYSE:RIO) marks 20 years of production on Monday from its Diavik diamond mine in Canada’s Northwest Territories. The Diavik diamond

[Pinegrove1]

Agreed.  And if I am Rio I would want to submit it as I may approach certain aspects differently than WRN and I wouldn't want to have to do things their way necessarily. 

[IvanRo]

Will be interesting to see what role the joint technical committee of Rio / MM will play in relation to the submission. It's possible that Rio can influence the ESE submission through that (that's assuming a new / extension agreement is signed though).  If no new agreement, then you may have point and then we can see how serious Rio is re: an acquisition.

[Heywood_Silvers]

I expect we will have one final extension with RIO, allowing them to buy-in and raise their ownership % up to 9.9%.  Based on current shares outstanding and RIO's current ownership %, there would need to be about 3.8mm new shares issued to RIO.  Proceeds would be about $5mm USD. Mitsubishi would likey be allowed to keep their pro-rata, which means they can buy about 190k shares. It

[jclarke042]

Any rationale behind Rio not wanting / WRN not honoring the 12.5% as outlined in the still valid Investor Rights agreement? I'm guessing nothing beyond "just a number that makes everyone happy," but figured I'd ask.

[Heywood_Silvers]

Sure, % could go up to the 12.5% allowed.  Personally, I wouldn't want it past the 10% threshold since afterwards you are getting into "ownership creep" which can be a prelude to a soft takeover on terms favourable to the suitor.  But I digress.......  not much difference between 10 & 12%. The 12% needs to be the line in the sand though.  No more kicking the

[jclarke042]

I'll remind everyone 12.5% gives Rio the right to a board seat, rendering any strategic investment rights agreement effectively meaningless. They'll have say in: permitting, capital raises, considering 3rd party offers - realistically non existent as no major will bid TO Rio - everything.  Rio can take the board seat, have say in permitting, and still submit the application in

[Heywood_Silvers]

If RIO earns a BoD seat, that wold raise the # of seats from 5 to 6 then?  1 seat would then = 17% of the BoD (or not much higher than their 12% ownership).  Any confidential BoD discussions of course would no longer be confidential, however, if a proposal were to be voted upon that RIO doesn't like they wouldln't have the votes to vote it down. The concern would be if RIO is

[Marine2]

Sorry to say, if Rio does not buy out WRN by Nov 28th and some how is allowed to own more the 10% then WRN will become dead in the market,,, a .60 stock !     When a little company like WRN owns a property that cost $3 to $4 B $$ to build a mine,, and with only a hand full of companies that could takes on this financial /engineering task,  this would leave WRN with nothing

[Heywood_Silvers]

I agree that the preferred option is not to allow RIO to increase to more than 10% prior to any buyout.  That being said, nothing can stop them from open market buying if they should choose to hit that 12.5% mark on their own in the absence of Paul rolling out the red carpet for them. I believe we have less than a 5% chance of being bought out by RIO this month.  Where is the pressure

[Pinegrove1]

Alot of possible scenarios being discussed today, some with dire consequences for shareholders. I would expect that WRN management including Vitton would anticipate these and take appropriate steps to avoid or counter these risks. They have skin in the game and our interests and concerns should be the same. They would of anticipated a long time ago that they might find themselves where they are

[Marine2]

Pingrove When you say, "They would of anticipated a long time ago that they might find themselves where they are now. " Yes you are right , Paul has anticipated many driictions this could head in, I still think Paul has a game plan that does not have us becoming road kill after all these years. This game has been played out many times with out falling into a death trap,, WRN road

[dfwrgk]

Everything scenario has been anticipated and contemplated without our input...   To walk into the trap isn't likely if the BOD's interests are truly aligned with ours... Given our situation, if Rio makes any offer which is just more dilution and stagnation, our next move should be merge with a solid medium-size profitable and producing miner which can fund our growth and the

[IvanRo]

Isn't that a case of whataboutery, as I was specifically referring to... "Mining giant Rio Tinto Ltd destroyed two ancient and sacred rock shelters in the Pilbara region of Western Australia as part of an iron ore mine expansion" (2021)

[Marine2]

Thats in Western Australia,, does not reflect on the Rio's 20 yrs in Canadian,, with Diavik Communities / First Nations.   Rio has established agreements with the Tlicho Government, the Yellowknives Dene First Nation, the North Slave Metis Alliance, the Kitikmeot Inuit Association, and the Lutsel K'e Dene First Nation and was hailed as a first class partner ! Rio also