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WIN - WIN Metals

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basilio said:
It's along shot but I wonder if WIN could find some support from the Federal Government $4B nickel support plan ?

Try nothing, get nothing ..
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Bottom draw for WIN, in my opinion, along with neometals and calix.
 
sptrawler said:
Bottom draw for WIN, in my opinion, along with neometals and calix.
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Indeed I think Neometals has more going for it. Don't know anything about calix.
I ditched most of my small holding in WIN. A bit of play money left.
 
sptrawler said:
Well it will be interesting to watch Neometals then.
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Not holding my breath there either. Just think it has some quality actual projects. What has spooked the market IMV is that the expected sales of Vanadium and Titanium project have not happened. Really makes a mess of cash flow IMV. They now absolutely need to see some serious dollars in the battery recycling gig.

There is a $30m contract with Mercedes Benz on the table.
 
basilio said:
There is a $30m contract with Mercedes Benz on the table.
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Which isn't much in the joint venture reality, a lot of Australian companies are extremely exposed to our over exuberance in the 'green dream', that a lot of other countries aren't embracing and the ones that are are becoming protectionist to stop the influx of Chinese products.

It leaves little players who are dependant on Australian capital raisings, exposed to investors who are more interested in lucrative property investments and the Govt handouts are drying up, it is basically becoming a bit of a mess IMo.
 
I just wonder how WIN is going to survive in a market that is seeing major nickel producers closing down and writing off billions of dollars in value.

Clearly it won't be on its nickel assets. Lets hope they find gold somewhere else. Or of course it Phoenixs into some other project - like a thousand other mining hopefuls.
 
BHP chief stated the oversupply caused by Indonesia (with Chinese money) is likely to last till the end of the decade at least.
 
WIN released its scoping study on the potential value of a stand alone concentrator for the Mt Edwards project. Paints a rosy picture; however it is based on a $24k US price for nickel. The current price is $17.5k . Most observers believe the huge Indonesian nickel mine will keep prices at this level until at least 2030.

Standalone Mt Edwards Project Scoping Study Highlights Nickel Potential

Highlights

•Compelling case for a standalone concentrator delivers:
•Low operating costs
•Higher payabilities
•Demonstrates the benefits of control of our own integrated mining and milling process.
•Widgie’s Resource base able to supply steady state sustainable production profile:
•Production rate of ~800,000tpa
•Overall 77% of material exploited in high confidence Indicated Resource category
•7 further Resources available to be exploited not contemplated by this Study
•Scoping Study assesses an 800ktpa standalone nickel concentrator producing 103,000tpa @10.1% Ni concentrate for 10,380t of contained nickel per annum
•Opportunities to consider downstream processing to improve viability now able to be considered

Widgie Nickel’s Managing Director and CEO, Mr Steve Norregaard, commented: “Nickel has only recently been added to the governments list of critical metals, which importantly opens up new avenues for the company to deliver this Project not previously available. This Study demonstrates the strategic value and uniqueness of Widgie’s Nickel Resource base to the entire country and WA. It is our ability, as demonstrated by this study, to support a long life mining and processing operation that sets Widgie apart from our peers. “This Scoping Study demonstrates that we have a robust nickel Project that should be progressed to the Pre-Feasibility Study stage. The fact that we have seven additional mineral resources that have not yet been examined as part of this process provides underlying confidence in the long-term nature of the standalone Project. “Of course, we are cognisant that the nickel price has been quite volatile over the last year, starting at well over US$30k/t and now sitting around US$17.5k/t. As quickly as it has come off, we have confidence that the fundamentals are there to support the price rebounding over the future years. We are building a Project for the future, not necessarily one to be immediately developed today. “This is a very significant step forward for the company.”

Standalone Mt Edwards Project Scoping Study (PDF 6,370.3 KB)
 
There has been a jump in WIN shares. Perhaps even if the company cannot develop the mine at this stage there is still sufficient value in the explorations and studies to warrant a sale that returns some value to shareholders.
 
At current price of 5.2c WIN has market value of $13m. From the last financial statement it appears to have $7.5m in net assets.


 
So the "ears pinned back brigade" paid a visit to WIN's ASX home this afternoon.

SP has jumped 34% on the day and closes at 7.5c . Not a great price given the heady days of yesteryear but certainly a respectable jump from last month.

The WIN Directors are holding a webinar tomorrow to spruik the wonders of Mt Edwards. Maybe someone has an inside tip on how the current directors are going to monetise the resources.

Webinar Invitation - 13 March 2024 (PDF 106.9 KB)
 
That webinar didn't add anything significant to our knowledge of where WIN can go.

Yes a stand alone nickel concentrator offers excellent value - at $24k a ton nickel. That seems to be long way off at the moment.
The details of how this concentrator will be financed were skimmed. Clearly the current economic case for the project doesn't stack up. The optimistic view is that sometime in the medium term future nickel prices will reach and hold at $24k a ton which should then make the project viable.

One thing I did notice in the current accounts is a valuation of $39m for the explored ore bodies. I wonder if this is a figure that could be realised if the company was wound up ?

The latest accounts show $2.7m in current cash assets with $1.4m in liabilities . That doesn't give much breathing room.

Half year Report and Accounts - 31 December 2023 (PDF 4,406.1 KB)
 
It has been fascinating watching the trading in WIN since the WEBINAR finished at 12.40.




Barely $2000 worth of shares traded but the SP jumps from 6.2c to 7c.
 
On July 5th, 2024, Widgie Nickel Limited changed its name to WIN Metals Limited.
 
win some ....

WIN advises that the divestment of Lithium Rights over a portion of Munda tenement, M15/87, to Auric Mining Limited (ASX: AWJ) has been rescinded by the mutual agreement of the parties. WIN has refunded $30,000 (ex GST) to AWJ for the rescission of the Lithium Rights sale. As previously announced on 27 August 2024 the other divestments, including the Nickel Rights, has been completed and are unaffected.

As a result of the rescission there is no longer any requirement for the assignment of the royalty deed associated with M15/87, the basis of dispute previously alleged by Estrella Resources Ltd (ASX:ESR) .

 
raise money, <<from start of month>>

WIN Metals is pleased to advise of settlement of the $3.6 million Placement previously announced on 9 September 2024. Settlement followed receipt of shareholder approval for the issue of the placement shares and options given at the General Meeting of shareholders held on 21 October 2024.
A total of 144,000,000 new fully paid ordinary shares have been issued at $0.025 per share along with 71,999,989 unlisted options. The options have an exercise price of $0.044 per share and an expiry date of 30 April 2026. An additional 12,960,000 options, on the same terms, have been issued to the Joint Lead Managers to the Placement.

Update on activities at the Butchers Creek Gold Project
The Company’s first drill campaign at the Butchers Creek Gold Project is rapidly nearing completion, some 6,750m of RC drilling has successfully been completed with an additional 800m of diamond drilling scheduled as a bonus, thanks to short-notice rig availability in the area.

WIN Metals and Meteoric Resources Ltd (MEI) are in the process of satisfying the final conditions precedent necessary to close the Butchers Creek transaction which will see Meteoric join WIN’s share register and the project sitting with a new motivated owner in what can only be described as an unprecedented gold price environment.


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happy punters ... welcome on board
 
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