Stop making up stuff Kevvy, that spend was an obligated spend to...

Stop making up stuff Kevvy, that spend was an obligated spend to be made by the end of this calendar year.

Nothing to do with Canadian high spend rate.



On Twitter, answering a question about Winsome's current cash position and spend.


Thank you for your question. Winsome Resources is now well-funded, with over AUD 50 million available.

At the end of the last quarter, we had approximately AUD 40 million in the bank. Since then, we have completed and paid for extensive drilling, project work, and due diligence.

We are obligated to spend the AUD 34 million in flow-through funds raised last year by the end of this calendar year. This expenditure is within our planned budget.

Exploration and pre-production companies need healthy cash balances to progress. This financial stability provides certainty to shareholders and stakeholders, ensuring that companies like Winsome Resources can continue with drilling and studies even during extended periods of pricing uncertainty. Our goal is to become the next lithium concentrate producer in North America.

We understand the current market sentiment and believe that having a substantial cash balance positions Winsome optimally for when market dynamics shift.

Additionally, Winsome has leveraged the Federal Flow-Through System, benefiting from a 38% credit on all exploration activities. This credit is returned to Winsome as “hard dollars” that can be spent in any area.

Thankyou for your support.