As are many others here I am contemplating if to participate in the Widgie placement.
I have been trying to find reasons for and against participating and am interested in some of your opinions.
Recently I was invested in two early Nickel plays: Talon Metals (TSX-V:TLO) and Auroch (ASC:AOU) Discl: I sold both. TLO with a sizeable gain Auroch with a small loss.
So I tried a small comparison:
1. Auroch has currently a market cap of around AUD 50m and and only a tiny resource so far (20.000 t Nickel @2%) and 3m in cash.
That comparison stacks well for Widgie with 8.000.000 t @1,5% and 25m in cash....
2. Talon has very similar resource with 156.000 contained Nickel tonnes. (Widgie 165.000) but a market cap of around AUD 350m (ca 40m cash)
This comparison leaves Widgie again looking cheap.
What am I missing? Any other peer comparisons that maybe fit better?
As of now I would have to take all the shares they offer me.
Widgie Nickel valuation -
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| Last trade - 16.10pm 23/05/2024 (20 minute delay) ? |
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