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2.4¢ winmar resources limited

Ann: Appointment of Metals Trading and Marketing Specialist, page-45

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MeToo

7,639 Posts.

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06/06/19

16:51

Post #: 38944837
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Originally posted by kynrazor: ↑

I agree entirely. Looking forward to the next update from WFE finalising the offtakes. I’m thinking perhaps the debt related funding package may have been offered by the same parties currently in discussions on offtakes. I would’ve been happy to add more in the capital raise to get us going full speed ahead but if non-dilutive debt funding is much faster and more compliant with the ASX, then I have no objections.

Indeed, we are very close. I’ve always wondered whether we were going to finalise offtakes first, as per part of the ASX’s requirements on relisting given we were arguably already almost there.

All in all, 5.5/7 was and still is the current score as it stands for re-listing given ASX’s ongoing requirements or perhaps lack there-of in response to the WFE application for in-principle advice after almost two months! Almost the same time it took for them to respond to our first application for in-principle advice albeit it’s really tested my patience.

If that’s the case, then WFE would have been right to update their application due to so many new developments that have been done and need to be announced soon on the ASX. Can’t issue those on the ASX and not include the new information on the prospectus. Whether the decision to withdraw the application for in principle advice from the ASX was a good decision to expedite re-listing, time will tell.

Also good to see Airguide working hard. No doubt they’ve been instrumental in getting some of the deals progressed to this current as yet un-announced stage.

I own ~1% here and assuming we are going to sign binding offtakes pre-listing, I’ll be over the moon! Who cares about the NSX or whichever other exchange listing rumour going around? Achieve even this alone and the updated prospectus shall reward us greatly.

Offtakes and associated funding will more than put to rest speculations on the future profitability and cash flows for WFE! And the market would reward us greatly for that. How many cos on the ASX do we know of that requires offtakes finalised in suspension as part of the overall re-listing process on the ASX? None that one knows of! Indeed, this is very unprecedented but I say we keep on charging ahead, as having offtakes significantly de-risks our operations and guarantees us to be in an even much better position than prior.

WFE is the real deal and it has been good to see the amount of progress we’ve made in the past year in suspension albeit much longer than we’ve imagined. I can see ML’s involvement in another co AVZ has had a massive re-rate upwards recently to a market cap of almost $200million.

Last time I checked, Cobalt at current prices are worth much much more than lithium per ton, and it’s definitely a business worth pursuing looking at my EV/EBITDA numbers, provided you don’t actually need to put up a billion dollars to build a new plant like some Aussie “listed” entities we have here. AUZ and a couple of others come to mind.

Bodes well for us in my opinion as we are actually much further advanced and with a much lower risk profile, proceeding with plans operating our Brownfield plant in Brownfield territory with Brownfield supply in DRC cobalt central Likasi with minimal Capex needed and a minimum 1% Cobalt grade ore supply secured to get WFE into production asap as an incoming only Top 10 in the world primary Cobalt producer listed soon on the ASX and the main London Stock Exchange.

Side note: I definitely think our Hamersley Iron ore project can be divested to further our Cobalt production strategy, given such big recent increases in iron ore prices, especially since it is next to Fortescue Metals FMG’s area.

Expand

“The Company will, upon finalisation of these discussions, aim to provide a comprehensive update to the market in respect of both its proposed acquisitions of a 50% interest in the Luapula Processing Facility (Proposed Acquisition) and the trading of the Company’s securities.”

Director’s speak, so don’t be disappointed if there is no up date when these current discussions are finalized!

1- The use of the word “aim” rather than “will” suggests they may or may not supply a comprehensive update upon finalization of the discussions.It will probably depend on the results of the current discussions.

Good = ann.
Bad = silence.

Last edited by MeToo: 06/06/19

WFE Price at posting: 2.4¢ Sentiment: None Disclosure: Not Held
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