Widgie Nickel valuation -

As are many others here I am contemplating if to participate in the Widgie placement.

I have been trying to find reasons for and against participating and am interested in some of your opinions.

Recently I was invested in two early Nickel plays: Talon Metals (TSX-V:TLO) and Auroch (ASC:AOU) Discl: I sold both. TLO with a sizeable gain Auroch with a small loss.

So I tried a small comparison:

1. Auroch has currently a market cap of around AUD 50m and and only a tiny resource so far (20.000 t Nickel @2%) and 3m in cash.

That comparison stacks well for Widgie with 8.000.000 t @1,5% and 25m in cash....


2. Talon has very similar resource with 156.000 contained Nickel tonnes. (Widgie 165.000) but a market cap of around AUD 350m (ca 40m cash)

This comparison leaves Widgie again looking cheap.

What am I missing? Any other peer comparisons that maybe fit better?


As of now I would have to take all the shares they offer me.