2.7% Li2O over 26m is a world class channel sample. An exciting start to what is presumably now Winsome's next project after Adina. The company could potentially sell Adina-Renard and just continue as an explorer-developer with Sirmac.
Pleased with the company's capital preservation, and I expect news soon regarding successful road funding and a strategic partner placed at a healthy premium (as other developers in Canada with far less than WR1 have achieved, eg FL - Panasonic at a 70% premium to SP, and GT1 - EcoPro at 100% premium.)
Good signs that lithium demand growth is tracking or outperforming projections, in particular much faster rise in non-EV demand, while exploration and development have stalled due in large part to Chinese strategic market activity.
Oh and btw don't listen to the Chinese pest who has been assigned to this forum. An 80km road at 1m/km cost (even in the unlikely event it's covered entirely by WR1 and partners) isn't unusual or problematic for miners, and Quebec is an outstanding mining jurisdiction according to those who operate there, 5th globally in the Fraser Institute's annual survey of mining companies, see: https://finance.yahoo.com/news/fraser-institute-news-release-utah-090000160.html
Intriguing potential too with the carbon credits. Renard has rich kimberlite tailings iirc with 20-30% MgO. The lowest-tech way of using these would be to crush them up and just leave them outside to react with the atmosphere, but there are apparently many approaches (therefore the MoUs have signed with tech innovators in this field.)
My earlier research found that approx 3t of 30% MgO kimberlite would be necessary to capture 1 tonne of CO2. To try and wrap some numbers around the CDR potential, we need to consider the set schedule for carbon credits in Canada, which increases from 125 CAD /t in 2027, to 140 in 2028, 155 in 2029, and 170 CAD /t in 2030. (How much would it cost to dig up some tailings and run them through the crusher? Far less than 125 CAD per 3 tonnes! Maybe someone can remind me how many tonnes of 20-30% MgO kimberlite tailings Renard has?)
For those new to the company there's a lot of detail that's rarely mentioned here. For example, Renard was upgraded and achieved 2.9mtpa in 2019 whereas WR1 studies are based on 1.7mtpa throughput. Plenty of potential to produce at a higher rate and/or or do some toll processing without additional upgrades.
WR1 Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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