WR1 1.89% 52.0¢ winsome resources limited

You clearly are intent on playing devil's advocate here but your...

  1. 4,404 Posts.
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    You clearly are intent on playing devil's advocate here but your unnuanced black and white debating points are easily nullified.

    "Canada takes 5-6 years minimum for environmental permits."

    That is the case in Quebec with permitting for Critical Elements and its Rose lithium project and for Allkem / Arcadium and its James Bay project (with that permitting process still on foot). However Ken Brinsden, chair of Patriot Metals (ex Pilbara) and Chris Evans have both recently said that permitting in Quebec averages about 30 months in comparison to WA which takes on average 24 months. I have followed Allkem for about 15 years now and their management was never the sharpest knife in the kitchen. I have also followed Pilbara Minerals for some years as well and Ken Brinsden has proven himself to be a top shelf manager. I'd tend to go with KB's estimates than yours or the Allkem sell-outs.

    "Zero infrastructure including roads and power."

    Winsome have their own permanent workers' camp which is a crucial asset for any mining company operating in northern James Bay, an advantage of being second mover in that neck of the woods after Corvette. They are building an ice road from the camp to Adina this northern winter and will have an all weather road in place by the end of 2024. A joint venture between the Quebec government and the Cree Nations, le Grande Alliance, already have plans to construct the road joining the main north south road to the main east west road in the eastern part of the James Bay region. The main chore for Winsome will be to sync up the commencement of operations at Adina with the opening of the main road heading south to the rail head. There is clear precedent because the north south road was previously extended to allow a diamond mine to begin operating.

    Accessibility to power in Quebec is a positive, not the negative you are claiming. The construction of the network of hydropower plants and transmission lines in Quebec is generally considered as province defining, bringing forward the development of Quebec's northern regions. Adina will have access to probably the cheapest cleanest electricity in the world.

    "Fact is they have 5 drill rigs clearly slow rolling things."

    The company only listed 2 years ago and only commenced drilling at Adina last year. From under 30 km of drilling they produced a maiden MRE at Adina of 59mt. They have another 25km of drilling currently in the labs. Their program is to drill a further 50km in calendar 2024 and to update Adina's MRE in the first half of calendar 2024. Fact is Adina is being progressed faster than fairly much any other lithium prospect in Quebec (Corvette?).

    "1 round of met testing ages ago… Kicking that can down the road cause they know they WILL need floatation."

    I don't know enough about that to comment. Maybe someone else might bother to address that point.

    My guess is that you are bored with the extra long weekend and thought you'd provoke some interactions. As the saying goes: it is better to be fighting than lonely. Maybe buying a dog might be another option for you.

 
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