Ann: Appointment of Metals Trading and Marketing Specialist, page-47

What did today's announcement actually say that was not known??

Let's go back to the announcement of 23/7/18 ...............

"The Company is working with its Strategic Advisor, Airguide International Pte Limited (Airguide) in order to develop and finalise a cobalt and copper concentrates offtake and related prepayment funding strategy for the Luapula Processing Facility."
"Airguide has commenced discussions with a number of European and Asian based global commodity trading groups and end-users of cobalt in this regards. Meetings with a number of these groups has taken place in China, Europe, South Africa and the DRC, and several technical site visits already completed to the Luapula Processing Facility and Exploration Licenses."


Then today's announcement ..............

"Winmar Resources Ltd (Winmar or the Company) (ASX Code: WFE) confirms that as a result of the Company’s ongoing advanced discussions with a number of parties in regards to cobalt offtake and associated debt funding...
The Company is advancing these discussions with its advisors and working with its lawyers in Australia and the UK to expedite the resumption of trading of the Company’s securities."

If you change a couple of adjectives around it sounds pretty much the same as July last year, discussions are taking place around offtake agreements and pre-payments (debt funding).

I do notice they are still having discussions, not negotiations.

The only new aspect today is that WFE ..........." has elected to withdraw the Application for InPrinciple Advice (Application) that was lodged with ASX in April 2019".

Not really much of an 'update' for investors as there are still a huge number of unanswered questions of huge relevance.
What evidence is there that the operation will be profitable?? The answer is still NONE. There is nothing whatsoever from any Independent Expert that shows this could be profitable for WFE, nor is there any indication that WFE are looking to show that the operation will be profitable (by appointing independent experts to work on this).

Today's 'update' looks like the update you get because people were promised an update, not that it said anything particularly news worthy.