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Ann: Pegmatite at Adina extended to1,600m of potential strike, page-242

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kevin103

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26/01/23

11:43

Post #: 65891901
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Originally posted by stevenjd: ↑

Yes indeed.
It is the pathway to dividends, with minimal scrip issued.
We get a massive MC because of resources put on plate with little dilution due to CFTF and tax rebates during exploration phase.
We then at say 1 Billion MC, could raise a 1 for 10 equity issue to fund the entire DSO pathway on cancet.
That then puts as CE said, even just 3mt is $1.5b profit DSO, and i think others have said $6b profit for DMS 6% Spod concentrate.

Line the ducks up, minimal raise, all the way to dividends, of getting the larger scale operations of Cancet 15-20mt and Adina much larger, fed into the cancet DMS plant 6% spod concentrate,.

Its a repeat of CXO development pathway.
BUT, and heres the thing. CXO was unfortunate with timing, and having to survive during a low in lithium prices that saw dilution hurt them.
WHEREAS - WR1 have started the IPO process with non jorc Cancet drills in place, to approx 3mt. Which said to me from the very beginning, that the market discovery would price the MC on the upward trajectory, thereby limiting dilution. We have a golden ticket, hit the track running, and dilution has been restrained from the very beginning. And you can thank CE for that, as he knocked back 80m at 20c at IPO, because he wanted a tight register.

At the end of the day, we could be looking at a 1 billion MC, etc, with say only another 6m shares issued, =>172 m FD, then do a 1 for 10, and raise $100m, and add another 17m shares => 190m Approx FD , and fully funded to produce our DSO plant.

=> accelerate sp climb, as it then looks organically at the forward dividend on only 190m FD, escalating to develop the larger resource base into a DMS 6% spod plant.

Thats what limiting dilution does for you. And that message will attract big money flow.

Expand

How about offtakes right which can fund good portion of Capex. That would further turbocharge our MC

I can see we will move beyond being priced at $150m MC for every 10mt lithium imo

We will be priced at a premium to that metric as we keep our scrips scarce, offtakes rights not yet valued, strategic nature of our deposits. $750m to $1bil MC is not unrealistic if GL1 is at $650mil MC

WR1 Price at posting: $2.25 Sentiment: Hold Disclosure: Held
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Ann: Pegmatite at Adina extended to1,600m of potential strike, page-242

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Ann: Pegmatite at Adina extended to1,600m of potential strike, page-242

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