Already post of the day! Brilliant pick-up Jason! No harm to Winsome. Phew!
And dare I say it a point that possibly could have been made in Winsome's announcement.
On 17 January the C$.40 warrants were only just in the money and given Winsome was already possibly nearing the maximum threshold for their holding in Power Metals and their ownership of 17.65m PWM shares has still to be confirmed finalised even now the benefits of exercising those warrants would have been marginal. In other words, Winsome would have rightly been indifferent about exercising the warrants or buying PWM shares on the open market.
On to who knew what when, CE makes a fair point in the ASX announcement that it was Power Metals that stated in their news release from December 2022 that the warrants expired this month. Nonetheless all Winsome had to do was read the Power Metals news announcement from January 2022 to see that the warrants were issued in January 2022 (it was the off-take agreement for Case Lake that was settled on in March 2022). Poor due diligence by Winsome back then and since then in not picking up a relatively obvious mistake, in my view.
WR1 Price at posting:
29.5¢ Sentiment: None Disclosure: Held
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