# WFE - Winmar Resources



## System (9 February 2011)

Winmar Resources Limited (WFE) is an Australian based mineral exploration company. The Company has entered into a Farm-in Heads of Agreement for the sole and exclusive right to earn-in to a 51% equity interest in the Hamersley Iron Project located in the Pilbara region of Western Australia.

The Hamersley Project comprises of one Exploration Licence (E47/1617) and one Mining Lease (M47/1450).

The Project is located approximately 50 km northeast of the Tom Price township in the Pilbara Region of Western Australia and lies immediately south of Fortescue Metals Group's Solomon project.

http://www.winmarresources.com


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## TheAbyss (28 February 2011)

System said:


> Winmar Resources Limited (WFE) is an Australian based mineral exploration company. The Company has entered into a Farm-in Heads of Agreement for the sole and exclusive right to earn-in to a 51% equity interest in the Hamersley Iron Project located in the Pilbara region of Western Australia.
> 
> The Hamersley Project comprises of one Exploration Licence (E47/1617) and one Mining Lease (M47/1450).
> 
> ...




Hit the boards today and looking ok.

Soem decent people on board here with some Io pedigree. Bought some in the IPO so looking good.

http://www.theaustralian.com.au/bus...wran-back-winmar/story-e6frg8zx-1226013131009


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## adobee (28 February 2011)

not sure how I missed this one ... does look interesting will start having a look at the information today. .


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## mr. jeff (28 February 2011)

adobee said:


> not sure how I missed this one ... does look interesting will start having a look at the information today. .




have had a bit of a look through the prospectus, basically the resource currently drilled has come over from Cazaly and WFE are looking to extend drilling along strike, mainly relying on a solid first year and burning most of the free cash during 2011.

Here's the bones of the deal;



			
				WFE prospectus said:
			
		

> Winmar has entered into an Agreement with Cazaly Iron Pty Ltd
> for the sole and exclusive right to earn-in to an initial 51% interest
> in the Hamersley Project by paying $400,000 (amount already
> paid) and a further $3.1 million plus 2.5 million Shares by 27 March
> ...




Further outline on WFE's intentions;





Additionally they got an honourable mention in the fin review today with notes saying Forrest is on board as is Malcolm Turnbull. On the board sits some prominent people as well which may have eased the issue. This has prospects, but the grades aren't overly wonderful - they do mention they are chasing DSO. See what the market thinks.


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## 88mph (15 April 2011)

Having a good day today.

I expect some good drill results are looming


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## adobee (20 April 2011)

some drill results out this morning .. with immediate success..

Initial drilling results received
48m @ 57.4% Fe (61.0% CaFe), 50m @ 56.6% Fe (59.8% CaFe),
26m @ 56.2% Fe (58.6%CaFe), 28m @ 57.8% Fe (61.1% CaFe)
 Low Phosphorus (≤0.05%)
 All results are from holes located outside the current resource area, excellent
potential for future resource increases
 RC drilling continuing, Diamond drilling due to commence


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## 88mph (20 May 2011)

http://www.wabusinessnews.com.au/en-story/1/88972/Cazaly-handballs-Hamersley-to-Winmar

Cazaly handballs Hamersley to Winmar
19-May-11 by Staff Reporters

Cazaly Resources has announced the execution of an agreement to offload its Hamersley iron project in the Pilbara to Winmar Resources for $35 million and a royalty grant.

The acquisition by Winmar is a variation of a farm-in heads of agreement signed by the two companies in October last year in regards to the Hamersley project.

Winmar is currently earning into a 51 per cent interest in the tenements, and will exercise an exclusive option to acquire the remaining 49 per cent from Cazaly.

Winmar will also pay an option fee of $100,000 for a two-month option period.

AT 11:13AM (WST) Cazaly shares had jumped 13.3 per cent, to trade at 34 cents, while Winmar's stock gained 4.17 per cent, to trade at 25 cents.


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## skc (20 May 2011)

88mph said:


> http://www.wabusinessnews.com.au/en-story/1/88972/Cazaly-handballs-Hamersley-to-Winmar
> 
> Cazaly handballs Hamersley to Winmar
> 19-May-11 by Staff Reporters
> ...




There are so many errors in this report it is ridiculous! They made it sounds like it's an agreement / acquisition when it is only an option being taken out. And the option fee is $100K for 1 month, not 2.


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## springhill (16 July 2012)

Latest drill announcements from Hammersley
*

Drilling at Hamersley Iron Ore Project intersects significant extensions of mineralisation*
Key points
● Step out drilling has confirmed significant extensions of Channel Iron Deposit (CID) mineralisation at Hamersley Iron project.
● Mineralisation intersected up to 800 metres from current Resource confirming significant lateral extension of CID.
● Current Drill program progressing well. Drill campaign consisting of;
o 5000m RC drilling designed to deliver significant Resource upgrade, and
o 600m of diamond drilling to provide core for Metallurgical Test work.

*Significant Drilling intercepts from Hamersley Project*
Key points
● Winmar has completed a 20 hole, 4012m RC drill program at Hamersley Iron project in the Pilbara region of WA.
● Results from first 11 drill holes have been received with significant intercepts intersected in 7 of these holes.
● High grade intercepts of up to;
o 28m @ 57.03% Fe (60.63% Calcined Fe) in PLRC0145 along with
mineralised CID zones of up to 90m @ 51.63% Fe (55.98% Calcined Fe) in PLRC0154 on the northern extent of drilling.
● Assay results from remaining 9 holes will be released in due course.
● Diamond Rig has commenced PQ drilling for Metallurgical samples from the CID
● Drilling designed to deliver a significant Resource upgrade, due in Q3, which will be used to provide an updated scoping study and in mining plans.



*They have managed to raise funds in a pretty good deal for them.

10th Feb
*Winmar Resources announce that $2.18 million has been received as part of the placement of $3 million to PXSteel International Asia Corporation Limited (PXSteel).The placement is by way of 15 million ordinary Winmar shares at $0.20 per share. This represents a 100% premium to Winmar’s current share price, as at close of trade on 8 February 2012.
The remaining $820,000 will be paid by PXSteel subject to an independent expert’s report and shareholder approval which will be sought at an EGM, to be convened in the near future. The independent expert’s report and shareholder approval are required due to the fact that PXSteel shareholding in the Company will exceed 20%.


Winmar entered into a Memorandum of Understanding) with PXSteel in November. Pursuant to the MoU, PXSteel made an initial, 1st Tranche, investment in Winmar of 6.5 million ordinary shares at $0.10 per share, to raise $650,000 (see ASX announcement, 29 November 2011).
PXSteel subsequently completed a due diligence process, and the two parties have entered into a binding agreement to place $3 million at $0.20 per share.

*17th May*
Winmar Resources Limited announce that it has completed a $3 million placement to PXSteel International Asia Corporation Limited (PXSteel).
Winmar advises that it has now received funds from the second tranche of the placement, being $820,000 via the issue of 4.1 million Winmar shares at $0.20 per share. This represents a 100% premium to Winmar’s current share price, as of 16 May 2012.
The second tranche of the placement was subject to an independent expert’s report and shareholder approval, which was required as PXSteel’s shareholding in the Company will exceed 20%.


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## springhill (23 July 2012)

*Outstanding High Grade Drilling intercepts from Hamersley Project

*● Winmar has received results from the remaining 9 holes of its recently completed RC drill program at the Hamersley Iron project.
● Results have produced further high grade intercepts of iron mineralisation with significant intersections in 6 holes.
● Highlight results include an outstanding high grade intercept of;
o 74m @ 59.15%Fe (60.47% Calcined Fe) from 28m in PLRC0162,
within a CID zone of 102m thickness.
● Other high grade intercepts included;
o 28m @ 57.62% Fe (60.21% Calcined Fe) in PLRC0158 and
o 32m @ 56.81% Fe (60.57% Calcined Fe) in PLRC0159
● Shallow high grade Detrital mineralisation was encountered above the CID in 3 holes in the south west of the deposit adjacent to hole PLRC0162.
● This shallow high grade CID and Detrital zone will be the initial focus of development plans at the project.
● Drilling designed to deliver a significant Resource upgrade, due in Q3, which will be used to provide an updated scoping study and mining plans.


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## springhill (24 July 2012)

*Exploration and Development Plans

*
Winmar’s priorities for its 2012 works program at the Hamersley project are:
 Defining the extent of the current Resource base
 Extending the Resource base
 Improving Metallurgical understanding at the project
 Progressing infrastructure access negotiations
 Native Title agreements, including Heritage agreements
 Base line environmental studies
 Defining new regional targets, and
 Mining Plans


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## springhill (26 July 2012)

WFE company presentation.
http://www.asx.com.au/asxpdf/20120725/pdf/427ld96txyhtqs.pdf


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## ricee007 (8 December 2013)

Anyone else running a ruler over this company? Or scared off waiting for more capital raisings?


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## xtrm (18 December 2016)

Another stock that hasn't been  mentioned in a long time.

Dodgy board members are out. Great geologist promoted and within a week has signed off on government approval, landholder approval, signed drilling mob to hit the ground in Jan. Road Sainty is highly respected Geologist and this stick is sitting on some serious wealth. Old (1984) results show 60,000koz gold + copper all at shallow depth with no wider exploration. Wasn't viable with gold prices where they were back then. with under 3.3MC I don't think there is any other penny stock I've brought into at such cheap price and had confidence in. I won't post the whole story, DYOR. but this is due for a VERY quick re-rate. Also have hamersly project which can be sold off to any of the large players surrounding them to support exploration without CR.

*I'm talking about Lomero copper-gold project now. Their new mine. The old mine will likely be sold off to fund


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## greggles (20 March 2018)

Winmar Resources re-instated to official quotation after a week long trading halt. Two announcements were released following the company's re-reinstatement.

The first advised that WFE had secured $3.1 million in funding, $2.1 million from a private placement and a further $1 million from a conditional private placement, both to "Professional and Sophisticated Investors".

Here's the key part of the announcement:


> *$3.1 Million Funding Secured to Advance Cobalt Acquisition Strategy*
> 
> Winmar Resources Ltd (ASX: WFE) (Winmar) is pleased to announce it has secured commitments for approximately $3.1 million in funds via the combination of a firm $2.1 million private  placement offer (Placement) made to Professional and Sophisticated Investors and a $1.0 million conditional private placement (Conditional Placement) made to Professional and Sophisticated Investors, subject to shareholder approval.
> 
> ...




The second announcement concerned the appointment of Singapore-based Airguide International Pte Limited as the company's Strategic Advisor "to facilitate and advise the Company on key relationships and a broader strategic work program aimed at securing value-adding commercial agreements with relevant counter-parties."

WFE headed north on the news, climbing 150% to 1.5c. Volume was a colossal 891 million shares.

Winmar Resources lost $831,600 in the half year to 31 December 2017 and at that time had only $347,213 cash remaining, so the funds raised came just before the company was due to run out of cash. So I can't help wondering, is this move just a desperate pump or signs of a possible turnaround. I suppose it's too early to call at the moment.


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## greggles (26 March 2018)

Winmar Resources extending last week's run today. Up 31.25% to 2.1c. Huge volume of 179 million shares traded.


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## noirua (2 September 2018)

• Offtake: Winmar Resources Limited ("Winmar")(ASX:WFE) has on 23 August 2018 signed with Red Rock a Non-Binding Indicative Ore Purchase Agreement, under which Red Rock would supply copper and cobalt ores from its projects in the DRC to the Luapula Cobalt Processing Facility located near the town of Likasi in Haut-Katanga Province, the DRC. On 23 July 2018 Winmar announced a Binding Heads of Agreement for Cobalt Production Joint Venture to acquire an interest in and refurbish this facility. Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw

This has not been announced on ASX. WFE shares remain suspended.


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## noirua (10 March 2019)

noirua said:


> • Offtake: Winmar Resources Limited ("Winmar")(ASX:WFE) has on 23 August 2018 signed with Red Rock a Non-Binding Indicative Ore Purchase Agreement, under which Red Rock would supply copper and cobalt ores from its projects in the DRC to the Luapula Cobalt Processing Facility located near the town of Likasi in Haut-Katanga Province, the DRC. On 23 July 2018 Winmar announced a Binding Heads of Agreement for Cobalt Production Joint Venture to acquire an interest in and refurbish this facility.
> Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw
> 
> This has not been announced on ASX. WFE shares remain suspended.




'In accordance with the terms of the Agreement, an adjustment is being made by our local partner, Vumilia Pendenza S.A.("VUP") to ensure that the areas comprising the Project have acceptable quantities and grades of mineralisation. This may involve, as noted in the announcement of 26 September 2017, adding areas; it may also involve dropping certain of the areas and substituting others.'

The above from the link: Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw

The above was originally principally about the tailings area that was taken away from Red Rock. Gecamines later gave 3 other areas to RRR.


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