GW1 - Greenwing Resources

[frugal.rock]

CEO commentary in yesterday's (Tuesday) announcement.

TIM MCMANUS CEO

“Bass’ sale and delivery of graphite concentrates into the European market demonstrates commercial acceptance of the Company’s product, and supports its strategy to become a globally significant advanced materials supplier, inclusive of battery anode feedstock.

With Bass’ acceptance into this alliance, on the back of successful trials with Urbix Resources achieving 99.9% carbon4, Bass sees this as another significant
step in developing its graphite and lithium projects to meet the unprecedent demand forming in the battery minerals space.”

It's a keeper.

 

[barney]

What do you think the boys are buying FR?

The Company provides the following information in relation to the request:

• The request for the Trading Halt is pending the release of an announcement regarding a proposed acquisition.

 

[frugal.rock]

What do you think the boys are buying FR?

Dunno?
One bigarse walk-in vault to store all the potential future earnings ?


Probably more to the point is, how are they going to fund this mysterious acquisition?

I know from last quarters financials (end Dec 2020), they said they had 2 quarters of funds left, however that was based off previous higher expenditures and moving forward was going to be much lower outgoings.

However, I figure they will need a little more working cash to get through the planned diamond drilling (only 10- 50m though) and this aquisition, whatever it may be.

With the shallow diamond drilling, the cost to result factor will be very productive considering the "potential" substantial increase of resource from it, almost a given IMO.

Not sure when they will start production again either, which was suspended due to covid restrictions/ difficulties.

I would think production will start again very soon as they are nearly out of monsoon season and we just got all the rain.... Ha!

 

[barney]

You could be right about the CR soon FR. I thought similar.

Maybe the "acquisition" might be in parallel with a CR. I think punters would take to that ok rather than just a straight cap raise.

See how she rolls on Friday ?

 

[frugal.rock]

Natural graphite requirements expected to increase 7 fold.
See dot points.

Top 14 UBS battery metals forecasts after VW teardown

UBS says ID.3 is the “most significant bet on EVs made by any legacy carmaker to date” prompting a super bullish upgrade to demand for lithium, nickel, cobalt, rare earth and graphite

www.mining.com

Older announcement from late 2019... they were ahead of the game....

https://www.asx.com.au/asxpdf/20191126/pdf/44by67p08jy230.pdf

 

[barney]

Natural graphite requirements expected to increase 7 fold.

Yeah. If the boys at the helm can prove up a decent resource upgrade with the upcoming diamond drilling, this could really start to take some shape down the track.

Time to put the foot down now as much as possible

 

[frugal.rock]

Well, no announcement as yet this morning.
So according to the trading halt request, it should trade as normal on open today, unless the announcement is lodged in the next few minutes.

A little unusual?

Edit; no announcement as yet, but not trading either.
Wait for an announcement then eh?

 

[frugal.rock]

Ta da....

ASX Announcement
26 March 2021

BASS METALS SIGNS BINDING TERM SHEET TO ACQUIRE THE SAN JORGE LITHIUM BRINE PROJECT IN ARGENTINA

HIGHLIGHTS
• Bass signs a binding term sheet to acquire Blackearth SA

• Blackearth SA holds an option agreement over the San Jorge Lithium Brine Project located in Catamarca province, Argentina

• San Jorge project consists of 15 granted exploration licenses covering 36,600 hectares

• All consideration to Blackearth SA payable in Bass shares

• Purchase of San Jorge project marks another milestone in positioning Bass as a fully integrated producer of key battery materials

• Bass has an extensive work program planned for the San Jorge project

Giddy up, yeeehaaaa.
Happy to hold on this lovely priced "speccie".

 

[Sean K]

Ta da....

ASX Announcement
26 March 2021

BASS METALS SIGNS BINDING TERM SHEET TO ACQUIRE THE SAN JORGE LITHIUM BRINE PROJECT IN ARGENTINA

Looks like a pretty prospective area for Lithium. In the 'lithium triangle' but it doesn't really look like a triangle to me.

 

[frugal.rock]

ASX Announcement 7 April 2021

BASS CONTINUES ADVANCED MATERIALS STRATEGY WITH AGREEMENT TO DEVELOP
SPECIALTY CARBON COMPOSITE TECHNOLOGY

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to announce it has reached an agreement with leading advanced material researcher Swinburne University of Technology (Swinburne) for the development of Specialty Carbon Composites using Bass’ concentrates for the manufacture of various advanced materials using both Expandable Graphite and Graphene.

HIGHLIGHTS
• Bass and Swinburne have signed a Master Research and Development Agreement (the Agreement) to develop advanced materials using both Expandable Graphite and Graphene from Bass’ premium concentrates.

• The key objective of the first collaboration is to create a patentable, environmentally friendly, advanced fireproof paneling product from purified Expandable Graphite and Graphene, with a focus on mechanical strength and fire retardation.

• Bass is uniquely placed to service the rapidly growing advanced materials sector having a demonstrated record of commercial production of clean,
large flake concentrates; the two main constituent properties of
Expandable Graphite and Graphene.

• The first project under the Agreement has commenced, with Swinburne having received its first batch of graphite concentrates from the Company’s operations in Madagascar, to commence purification optimization and Expandable Graphite and Graphene manufacturing.

• Bass remains in discussions with several groups and has a Memorandum of Understanding (MOU) in place with leading US graphite technology company Urbix Resources LLC (Urbix) regarding potential off-take arrangements, based on recently received outstanding test results relating to the purity of its concentrates 1.

 

[barney]

Morning Market Depth certainly looks a bit healthier pre-trade.

I see BEM had a nice bump again yesterday. Lets hops BSM follows suit for you @frugal.rock

 

[frugal.rock]

ASX Announcement
13 July 2021

BASS METALS REACHES AGREEMENT TO ACQUIRE THE SAN JORGE LITHIUM BRINE PROJECT IN ARGENTINA

HIGHLIGHTS
• Bass has reached agreement to proceed with the acquisition of Andes Litio SA (previously Blackearth SA) which holds an option agreement over the San Jorge Lithium Brine Project.

• San Jorge project consists of 15 granted exploration licenses covering 36,600 hectares in the Catamarca province, and located in Argentina’s prolific Lithium
triangle.

• Bass will shortly commence an exploration programme at San Jorge.

• The San Jorge Project is a key part of Bass’ strategy of providing a comprehensive and integrated exposure to Lithium, Graphite and Advanced Graphite Materials.
• Bass will continue to develop its graphite resources at Graphmada and pursue Advanced Materials applications for its high quality graphite.

 

[barney]

The lads appear to be having a go @frugal.rock but the Market is not getting overly excited

Consolidation/Split is 19th July, yes? 50:1 will see 0.005 = 0.25 cents per share?

Hopefully once the SOI are lowered and the per tick ratio becomes bearable, the punters might return

Currently 1 tick = around 20% (0.005 - 0.006) Post consolidation a 1 tick move ( 0.005 ie. 0.25 - 0.245 ) = just 2%

Big difference! Lets hope that is the case. Good luck with it.

 

[System]

On July 28th, 2021, Bass Metals Limited (BSM) changed its name and ASX code to Greenwing Resources Limited (GW1).

 

[Ann]

Perhaps one for the watchlist? Graphite.

 

[frugal.rock]

Sure, but it's changed its name and consolidated....
we know how you feel about that now.

Share Consolidation - Legal Theft

Until you as a shareholder experience a Consolidation of shares you will never be able to appreciate the feeling of being legally robbed of multiple thousands of dollars. It works this way. Buried in one of the annual reports or interim reports there will be a notification of a motion for...

www.aussiestockforums.com

 

[Ann]

Sure, but it's changed its name and consolidated....
we know how you feel about that now.

Share Consolidation - Legal Theft

Until you as a shareholder experience a Consolidation of shares you will never be able to appreciate the feeling of being legally robbed of multiple thousands of dollars. It works this way. Buried in one of the annual reports or interim reports there will be a notification of a motion for...

www.aussiestockforums.com

UUuurrrgh!

Still might have some upside for traders. I haven't been doing any background checks FR, just wacking stuff up onto ASF as I come to it, after doing a stock screen search on IC. Not in a buying mood, just a charting mood!

 

[greggles]

Very interesting deal struck between GW1 and NIO Inc.

NIO has agreed to pay A$12,000,000 to Greenwing to subscribe for 21,818,182 Greenwing shares at a deemed issue price of A$0.55 per share (Placement) and a call option to acquire, at NIO’s election, between 20% to 40% of the issued capital of Andes Litio SA (Andes Litio), which holds options rights over the San Jorge Lithium Project (Call Option).

On Friday GW1 closed at 24.5c. For NIO Inc. to have valued GW1 shares at 55c at a time when they were trading at less than half that, they must have a strategic reason for the transaction, specifically related to the San Jorge Lithium Project.

As explained by the announcement, "NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries."

Securing a future supply of lithium is clearly in the interests of a company in the EV business.

Superficially this looks like a good deal for GW1.

 

[frugal.rock]

The above has been completed.
Announced today.



On 26 September 2022, Greenwing Resources Ltd (Greenwing or the Company) (ASX: GW1) announced that it had entered into a strategic funding transaction with NIO Inc. (through its wholly owned subsidiary, Blue Northstar Limited) (NIO).
Greenwing is pleased to announce that it has completed the placement of 21,818,182 fully paid ordinary shares to NIO for in aggregate A$12,000,000. Greenwing has also granted a call option to NIO to acquire, at NIO’s election, between 20% to 40% of the issued capital of Andes Litio SA, which holds options rights over the San Jorge Lithium Project.
As at completion, NIO holds a shareholding of 14.7% based on the Company’s current issued
capital.

 

[barney]

My January 2025 Monthly Stock pick.

Up 17% on bugger all Volume last trading day of 2024 .....

Lithium in Madagascar ...... More research required.

10M market cap .... 240M SOI ....... Small numbers but only $1M in the bank ...... anything could happen up or down.