I agree with your statements about permitting and who they are...

I agree with your statements about permitting and who they are competing against. Canada is incredibly slow in the lithium scene. We've had words that GOVT are expediting the processes but no real actions taken as far as permitting regulations go.

In terms of starting with a small resource to start further development studies. It is somewhat a double edged sword. The resource is open, and studies cost money.

Continuing to drill is the better option. Quebec has the best FTS scheme of any state in Canada and they have money to spend so 5 rigs and plenty of holes is the better way to do this.

For those, including myself, who thought a DSO operation at say Cancet would be a great idea - it cannot be done.

"For these purposes, a qualifying corporation is essentially a corporation whose activities are limited to resource exploration and development, and is not itself (and is not related to a company that is) exploiting a mine in reasonable commercial quantities."

https://www.miningtaxcanada.com/flow-through-shares/

I'd say with basic interpretation of the quote above. a DSO operation is, would, or could be, classed as selling "commercial quantities".

That also rules out a smaller scale Adina. As WR1 becoming a small producer would negate any easy money via FTS. Including km's of drilling accross all tenements and that of developmental costs of a much larger scale operation.

If your going to develop, you want to be going as big as you can so you can still explore the other tenements such as Cancet with the FTS.
Developing Adina on a small scale would make it extremely tricky to navigate funding options, compared to a 100mt deposit that strategic investors all want a bite from as seen with PMT and ALB. Or we could end up like AZS and give away ownership extremely early. I say let them pay up towards the end, after us retail have made more money.

If, doing studies early in order to get the permitting application further advanced, is your only issue, and you would rather this be complete but not become a producer straight away until further development...

Then you have to decide for yourself whether the company should spend twice the amount on studies and in the long run. Hiring specialists isn't cheap including more staff themselves.

Not only that, I'm sure they would see right through WR1. Every piece of documentation has to be submitted related to the mine. Seeing a potentially big orebody modelled and WR1 having completed no sterilization drilling and plonking the infrastructure wherever they please would sure raise some eyebrows. Especially relating to the "extent and probable value of the deposit"




https://mrnf.gouv.qc.ca/en/mines/mining-rights/extraction-rights/


WR1 saw a meteoric rise and has returned wealth to many investors. This occurred through exploration. Big intercepts and MRE is going to keep this SP going well north in the long run.

Overral, raising more funds than is required will only add unnecessary pain. Both on a dilutive basis but also the expectation of news and not delivering certain things on time which would be due to WR1's own workload increase as well as relying on outsourced experts.

I'm also overweight in WR1 but I agree with the strategy. The ability to turn the buck is a very bad short term vision imo. I'm happy they aren't shortcutting.

They still need a PEA as per the requirement of scoping study mentioned above. So have highlighted PFS and PEA both for 2024. Faster than usual for a company.

PWM for instance have only drilled 15,000m to date from 2017 to 2022. Although funding probably dried up during that period. Another 15,000m planned already for late summer this year. So WR1 has achieved a lot especially considering the recent ipo's of Canadian explorers who experience field exploration delays during summer.

Environmental approvals are underway in regards to permitting at Adina have been done at Cancet already. Chris has a strong record on his own at bringing a lithium mine into production. Not to mention SB, somewhat tarnished of late, but still brought CXO to production in record time.

A big enough MRE for a takeover is not in the plan in my eyes. Management understand the lithium market, have done it before and have proven to be fully capable. They would also know the permitting process a lot better than any of us.

Experts in lithium are hard to come by. Not to say if the price isn't right something might happen. But it makes us less susceptible to any take over bid.

I believe they have they have the right strategy I hope you know I thought your post was genuine and not downramping and can take my post as not an attack but difference in opinions.