Ok, I have a suspicion the BOD/management might have some plans.
Have a look at this.
Plus, it mentions that WIN doesn't have access to every mineral on their tenements, particularly gold, if I remember correctly.
They mentioned this the other day.
These are the entities surrounding WIN.
WIDGIE NICKEL LIMITED (ASX:WIN) - Ann: Non-renounceable Rights Issue to Raise up to $4m, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
My thoughts?
WIN might be looking for a JV partner or buying more mineral rights on their tenements, but it looks as though they might be working on a few options. Divestments could raise more cash without diluting holders again. Anyway, I'm not sure, but I'll be interested to see what comes of this.
Ann: Rights Issue Prospectus, page-2
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Mkt cap ! $11.48M | |||
| Open | High | Low | Value | Volume |
| 3.7¢ | 3.7¢ | 3.6¢ | $3.969K | 109.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 137427 | 3.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 35171 | 3 |
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| Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
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Last
3.6¢ |
Change
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| Open | High | Low | Volume | ||
| 3.6¢ | 3.6¢ | 3.6¢ | 3941 | ||
| Last updated 14.11pm 27/05/2024 ? | |||||
| WIN (ASX) Chart |