WSA 2.00% $3.06 western areas limited

is zfx going to take wsa next

  1. 8,456 Posts.
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    Hi guys

    It would be interesting to see if ZFX now with AGM under its belt and as soon to be merged company with OXR will look at WSA again.

    Imho AGM is not going to be the only Nickel mine that ZFX wants in their portfolio.

    They would have the resources to offer an all cash deal, or a combined cash and script deal to make the offer attractive enough to get the big holders like streeter on side.

    Time will tell but remember Mr Michelmore is an old nickel fox being the former CEO of WMC.

    He would know the potential WSA has.


    following is part of a converstation Mr Michelmore

    transcript of part of the conversation:
    ANDREW MICHELMORE: We want to diversify in nickel and also copper. We have a number of opportunities we're looking at in both those areas. As you say, very important to get the Allegiance acquisition under our belt, get that into production and at that point we'll be looking at actually going forward with a couple of other acquisitions. But there's a suite of them we have. I think one of the benefits of the market coming back is that people are more realistic about their values and the prices for these companies and in addition, we have $2.2 billion sitting in the bank. So that cash is worth an enormous amount to us in terms of purchasing power.

    ALI MOORE: So after Allegiance, how much will you have left in the kitty?

    ANDREW MICHELMORE: About $880 million go on Allegiance, we've got $2.2 billion sitting in the kitty that will leave around $1.3 billion.

    ALI MOORE: A suite of acquisitions, can you tell us where and what?

    ANDREW MICHELMORE: Now we've got nickel in Australia under our belt it obviously opens up opportunities to use that core investment to then move into other countries. With copper at the moment I think we'd like to we'll continue looking in Australia for opportunities. We'd like to grow our portfolio a bit more to get a more diversified base to it before we look at any significant offshore opportunity. But having said that, you never know what happens. These things come up with a sudden position to be able to move and we have to be prepared for that.
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