@OpenSeasonThat would be 8% of a resource that's mainly inferred.
There are 12 known deposits, mostly inferred, so WIN won't know how much nickel they're sitting on for a while. Hell, they didn't even realise they were sitting on lithium until recently.
WIDGIE NICKEL LIMITED (ASX:WIN) - Ann: High Grade Lithium Discovery at Mt Edwards, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading ForumWhat else could they find? There are many nickel prospects on the lease.
If the overall nickel base increases for the project, that will reduce the percentage for Armstrong. Meaning, Armstrong would retain the current value/amount of nickel but be a smaller percentage of a much larger nickel resource. If Armstrong alone can generate this type of profit & it's actually much smaller
as a percentage, when compared to the entire project, it would signify just how much more growth WIN could experience over the years to come.
For example, if WIN were to pay a dividend on the best-case scenario above?
$68 million / 250 million SOI = $0.272 cents a share.
The price of nickel will obviously change over the next 12 months, as will the SOI, among many other things.
It might be a good idea to keep track of the nickel price & USD index. Ideally, we want the nickel price to climb & the AUD to fall. Interest rates will also be a factor along with the Macro/global economy.
I think WIN is slowly ticking boxes, it might take some time for the market to wake up.
Bring on the next ann.
(20min delay)