I believe there is a technical nature to this raise.
From what I have come to understand, if wr1 take up renard they must give back all remaining FTF funds raised last year. 20mil remaining by my spreadsheet.
2 FTF systems exist, one province based (Last year @1.96) and Federal FTF, if wr1 take up Federal FTF they are not required to give back that money.
I am surmising we are going to roll over option until all last year FTF money is used, but both FTF systems change on 26 June in respect to the multiplier.
Essentially Wr1 are making sure they have drilling money for the remainder or 2024 and 2025 and will not take up Renard option until 2023 FTF is used.
WR1 Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
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