WR1 - Winsome Resources

[System]

Winsome Resources Limited (WR1) is an Australian company headquartered in Perth that has entered into agreements with MetalsTech Limited (MTC) to acquire all of the shares of three Canadian subsidiaries of MetalsTech which hold three lithium projects in the James Bay region of Quebec Province, Canada.

The three projects are:

(a) the Cancet Project, which comprises 395 claims. The Cancet Lithium Project is currently held by MetalsTech Cancet Lithium Inc, a wholly owned subsidiary of MetalsTech incorporated in Quebec;

(b) the Adina Project, which comprises 57 claims. The Adina Project is currently held by MetalsTech Adina Lithium Inc, a wholly owned subsidiary of MetalsTech incorporated in Quebec; and

(c) the Sirmac-Clapier Project, which comprises 77 claims. The Sirmac-Clapier Project is currently held by MetalsTech Sirmac-Clapier Lithium Inc incorporated in Quebec.

Following completion of the agreements, Winsome will be focused on the exploration and development of these projects, with an intention to produce high quality spodumene concentrate primarily for conversion and use in battery applications in the North American market.

WR1 listed on the ASX on 30 November 2021.

Winsome Resources

Winsome Resources is an Australian headquartered, ASX-listed lithium company specialising in lithium exploration & development of hard rock lithium assets.

winsomeresources.com.au

 

[frugal.rock]

Top 12 shareholders.

The stock looks a little interesting if interested in lithium?

 

[Dona Ferentes]

Listing date	30 November 2021 12:30 PM AEDT ##
Company contact details	https://winsomeresources.com.au/ +61 419 853 904
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	WR1
Capital to be Raised	$18,000,000
Expected offer close date	08 November 2021
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager).

 

[Dona Ferentes]

opened yesterday ... at 29c and holding around 27c. Win some

(DNH)

 

[frugal.rock]

Win some

some Win ?

Whilst the number 42 may be the answer to the universe...., apparently 61.8% fib is hard to beat...
($0.3236 for stocks that IPO on $0.20)

 

[Swervin Mervin]

Is this one of those IPO’s that just keeps charging along? 50c next week?

 

[frugal.rock]

Annoying.
I looked at this yesterday or the day before, after noticing MTC...

 

[chuckyball]

potentially a future M&A target from either Sayona or Piedmont, both who want to continue to build their (relatively local) resource base to feed the future gigafactory monsters growing in Tennessee and surrounds.

This was in their latest presentation:

Rapid path to production - existing
Highway connecting Cancet to
mining and transport centers to the
south. Low Capex and construction
potential with potential conversion
capacity in nearby lithium hubs

 

[noirua]

Winsome Resources (ASX:WR1) intersects 160m of pegmatite at Adina, Canada

Winsome Resources (ASX:WR1) has intersected a collective 160 metres of pegmatite below the recently discovered Jamar outcrop at the Adina project in Québec, Canada.

themarketherald.com.au

Winsome Resources (WR1) has intersected a collective 160 metres of pegmatite below the recently discovered Jamar outcrop at the Adina project in Québec, Canada.

While results are expected in six to seven weeks, visual observation of the diamond core samples show the pegmatites are consistent with previously reported surface mineralisation.

 

[Buckfont]

Further to what's written above, Jan 25th's announcement has shown that the pegmatite body has a strike length potential to1600m +/-, nearly 3 times the previous extent.

More drilling on the Adina main zone is progressing and the next set of assay results is hopefully just around the corner.

Standby folks.

 

[Dona Ferentes]

Solid 68% run in January, so let's go round up some cash

Broker Canaccord Genuity split the call into four parts:

• a $26 million institutional placement
• with room for $5 million in oversubscriptions,
• $19.2 million flow-through placement to Canadian investors
• a $10 million share purchase plan.

The institutional placement and the SPP were priced at $2.00 each, which was a 14.2 per cent discount to the last close and 5.9 per cent lower than the 10-day volume weighted average price.

 

[Buckfont]

Noticed it closed $1.23 on 30/12 /22 (Fri). Closed yesterday $2.33, Dona. so that makes it a 90% increase for Jan. Had intended to pick it for last month comp, but didn't, hence my reason for getting in early for Feb. Looking good

 

[Dona Ferentes]

Solid 68% run in January, so let's go round up some cash

earwig. oh, again!

Canaccord Genuity on the case for more cash, split into two parts:

• a flow-through placement to Canadian investors at $2.38 per share to raise $34.4 million, and
• sale of shares to institutional and sophisticated investors in Australia at $1.22 per share to raise $17.7 million.

Proceeds will be used for Winsome’s drilling program at its flagship Adina lithium project in Quebec, Canada.

Locally, shares last traded at $1.37. roll up, sophs

 

[Dona Ferentes]

Noticed it closed $1.23 on 30/12 /22 (Fri). Closed yesterday $2.33, Dona. so that makes it a 90% increase for Jan.

WR1 has been around for 12 months, and 2023 has mainly been about settling lower, since the initial Oct to Jan excitement.

 

[Dona Ferentes]

earwig. oh, again!
...Proceeds will be used for Winsome’s drilling program at its Adina lithium project in Quebec.

Locally, shares last traded at $1.37. roll up, sophs

Pathway to Production

HIGHLIGHTS
• Firm commitments received for A$25m equity raise at a weighted average price of approximately A$1.00 per share to advance Winsome’s Adina Lithium Project into development.
• Winsome taking advantage of Canadian flow through provisions following the announcement of measures in the 2024 Canadian Federal budget, expected to negatively impact flow through provisions for exploration companies after 24 June 2024.
• Strong support provided by existing shareholders and new domestic and global investors underpin Winsome’s pathway to production strategy.
• Capital raise includes approximately A$13.2 million utilising Canadian flow
through financing provisions, placed at A$1.275 per share, representing a 32% premium to Winsome’s last traded price.
• A share placement has been undertaken alongside the Canadian flow through financing to raise a further A$11.8 million at A$0.85 per share for gross equity raise proceeds of A$25m.
• Capital raise funds will be used to advance key project initiatives including:
o Adina Lithium and Renard project studies, on track for completion Q3 2024, and
o Exploration and resource growth drilling to expand the current Mineral Resource Estimate of 77.9Mt @ 1.15% 1.
• Winsome in a strong financial position to continue its transition from lithium explorer to project developer.

1 “Adina Mineral Resource increases 33%.” ASX Announcement 28 May 2024.
.