I thought Sayona had 60% ownership of Moblan? Was my understanding, WR1 owns 100%, with a resource not far behind and in all honestly could very easily be closer to 90-100mt with drilling that hasn't been included. But agree, Renard is the game changer, without Renard Adina will be stranded and cant see it ever making it through production via a greenfield development. Which is why I cant see how CE will let Renard slip through his fingers, I'm sure he will find a way. WR1 is an attractive proposition with Strategics, especially at this valuation. High grade, low strip, near surface, 21 year mine life + Renard (assuming it gets exercised) is a no brainer. Yes spod has a 7 infront of it today, but Renard wont be turned on to produce tomorrow, where looking 3-4 years ahead and if Spod is still sitting at $700 then, unlikely to have many mines still operating, which is why its likely to get closer to the average $1200-$1300.
WR1 Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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