Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
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Announcement from ERM has made my day. :)
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So many DFs come out of the woodwork on days like today that it's not worth the time and energy throwing yourself into it. .
Downrampers, revenge posters, 'i told you so-ers', narcissists and self-righteous 'victims'. Malicious turds a plenty (none mutually exclusive).
Well I didn't think a CR was needed but I can see the though process and I get they might want to keep drilling beyond 100mt to boost the share price, should the lithium sentiment return in the second half of this year.
No doubt Fast Eddy's dump was the material end of the prospect of avoiding the CR though.
The SP falls significantly on his dump and people wonder why its falling after such a cracking MRE update.
Then the DFs in here talk constantly about CRs and the buying pressure naturally dries up, not likely to return until a CR is then completed. Ironically then many of those same DFs get upset that the SP is falling, all the while claiming how smart they were for predicting a speccie might need a CR.
Geniuses. Good times in 2024's Western Lithium World.
Once the narrative was set and the SP had started to run, a CR had to happen. Albeit all too late so at a decent 'real' discount. At least it is a small CR. And it offers the opportunity to raise for a first call option on Renard - so we will not be squeezed into a sub-optimal strategic partnership just so we can keep the Renard deal alive. That's a pretty decent positive IMV.
Many of the non-holding DFs who like to talk CRs hold shares in other lithium stocks. I guess its cathartic to dump on others while you're getting rheemed yourself. PMET has just been through it, and LRS will do likewise before the next quarterly. That's the game and I guess people going to play it.
So, this is not the end of the world but lithium is again back into the doldrums after a bounce. My view was that many companies were well oversold at the last bottom and that we are unlikely to see those lows again. And share prices keep moving more in relativities rather that in absolutes.
All lithium companies are suffering right now. Not just Winsome.
In fact, since the lithium equity bottom in Feb, we have still seen the most share price appreciation (even if we fall a bit more when we return to normal trading next week). So the market still sees our opportunity, but big dollars are not yet prepared to flow back into a sector that keeps getting wacked.
No doubt that will change.
As for the comments on when mining might commence at Adina - because it will commence at Adina - it's easy to accept the conservative values that Winsome will put out but I do not consider they in any way represent reality.
This company has a history of under promising and this is exactly that. I do not even believe the figures in that presentation reflect a likely timeline for a greenfields option that has almost zero chance of progressing past the PEA duel in August/September (with Renard it was never a fair fight).
Regardless of cynicism about permitting, there is not that much to permit. Adina becomes a quarry. Renard needs to store the tailings from spodumene ore rather than from kimberlite. Maybe that will take three years but I doubt it. The road will be sorted shortly, I am sure.
I chuckled when I saw three years from end permitting to production in that presentation. What exactly will be constructed?
How much construction is there really to set up a quarry? How long would it reasonably take to make some minor modifications to an existing plant that already operates over the planned capacity?
The road will be completed next year. Once we go with Renard, I don't see any reason why they don't start modifying it. The permits will come when they come. Its not going to take more than 6-12 months to modify Renard. Likewise, I am sure that setting up a quarry isn't six months of work.
So I'll back in 2027 as I have before, just as I picked 100mt for Adina early last year. We will see if I am right, not doubt I will be reminded if I am not.
Last edited by InItEarly: 13/06/24
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