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And whats he saying that we didn't already know

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patience

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20/02/24

09:31

Post #: 72493978
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Originally posted by gorby: ↑

A snippet from $head today :-
The two names Delroy has come back to are MinRes backedDelta Lithium (ASXLI), which controls around 40Mt of spodumene resources in WA, and Canadian explorerWinsome Resources (ASX:WR1).
“I still think this is gonna be a very choppy, difficult year for lith with the physical pricing. But you do want to be hunting some things that are beaten up,” he said.
“Delta is not an A-Grade asset. It’s like a C-Grade asset suite but there’s strategic interest there.
“And $100-odd million at bank, probably compelling at some point for MinRes to wrap it back up with some paper and take the cash back. I’m sure their balance sheet could do with that.”
Delroy rates ~$150 million capped Winsome ahead of the $1.62 billion cappedPatriot Battery Metals (ASXMT), which has drawn the most excitement from punters in Canada’s crowded James Bay lithium scene.
Winsome posted an initial resource in December of 59Mt at 1.12% Li2O at its Adina deposit last year, with a further update expected in the first half of 2024.
“That’s a quality asset that’s going to continue to grow,” Delroy believes.
“It’s a next cycle asset at best. It’s still got a journey, but it is a proper asset and it’s far more compelling from a valuation standpoint than something like a Patriot.
And it’s also, I think, got a far shorter path to market than Patriot. I think there’s a more credible permitting process with Winsome.”

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And whats he saying that we didn't already know

WR1 Price at posting: 77.5¢ Sentiment: Buy Disclosure: Held
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Last 76.5¢		Change 0.005(0.66%)		Mkt cap ! $164.5M

Open	High	Low	Value	Volume
76.5¢	78.0¢	74.5¢	$493.9K	651.4K

Buyers (Bids)

No.	Vol.	Price($)
2	43997	75.0¢

Sellers (Offers)

Price($)	Vol.	No.
77.0¢	10476	3

View Market Depth

No.	Vol.	Price($)
2	43997	0.750
1	5000	0.745
1	15000	0.740
1	1300	0.735
2	10024	0.730

Price($)	Vol.	No.
0.770	1000	1
0.775	7376	2
0.780	2160	1
0.790	60000	1
0.795	29946	2

Last trade - 16.10pm 28/06/2024 (20 minute delay)

WR1 (ASX) Chart

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