Pathway B is in our control, but the argument could be made that the best thing about WR1 is its PWM holding, and I’m not sure management (or shareholders) would want to give that up. Additionally, even if we were to monetise the PWM assets, I’m not confident that management would spend the proceeds wisely, given their recent history of capital management.
Pathway C is also out of our control.
Pathway D isn’t a pathway to “success”. The only way this company can “wait out” Lithium 3.0, is to abandon Renard (which would then crater the SP further), and then survive by cap raises at ever lower prices, or divest assets (which would remove the element of “choice” from Pathway B).
WR1 Price at posting:
27.5¢ Sentiment: Hold Disclosure: Held
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