WR1 78mt x 1.15% targeting 100mt plus. (61.4Mt x 1.14% indicated)
215m FP Quebec - Canada.
Near surface, potential high grade starter economics. Capital advantage, some CR funds raised through CFTF which raises funds at a premium, to equity issued, funds must be spent on exploration, Quebec also provides 38% tax rebate incentives on exploration.
Most advantageous Capex offset, WR1 has picked up option to acquire Renard, ex diamond mine, with near 1b of infrastructure that is being investigate to be repurposed for spodumene. Has own airport, gas fired power generators, 400 man accommodation etc. Cost of 52m. etc. Additional capex might be in the low hundreds of million, savings might be around 500m according to company news - we wait for the PEA expected sep to clarify. Deposit at Adina would be potentially quarry only, and trucking 60km as the crow flies, but 80km or so, approx .
