WR1 General Discussion, page-24945

I agree with your viewpoint on M&A. I was quite frustrated when I heard the CEO says that WR1 is not pursuing strategic partnerships and takeover offers.
What? Closing the door for strategic partners and TOs is not a good strategy. Canada is not a cheap place for mining. Given current Li price, the Canadian government may not even approve permits.
I’m puzzled why the CEO like engaging in Canadian flow-through funds, a mechanism that no longer impresses the market.
The so-called premium offered to Canadian investors seems more like a discount to institutions via the flow-through mechanism.
If this approach is used again, I fear the SP may suffer another decline.
It’s perplexing why this method would be considered again if a strategic partner can offer a better price than that discount price given to institutions under Canadian flow through raising.
Given the current sentiment, it seems only a substantial TO or Li price recovery could halt the SP’s downward trend.
For my part, I sold 20% of my holdings at $1.15 when WR1 recently raised funds at $1.2 (so-called $2.38 per share) using the Canadian flow through funds in October.