WR1 General Discussion, page-244

First 244 Last

Share
Profile

Follow
Kaeho

7,025 Posts.

1638

31/08/22

00:55

Post #: 63420433
Share

Originally posted by FreeflyerNZ: ↑

Patriot metals has seen some good sp appreciation and its listed on the OTC as well as TSXV and frankfurt.

they have some very big intersections. Circa 150m around 1% Li2O. From out cropping pegmatites but worth noting they are in what looks to be a difficult location right next to the waters edge, pretty sure an open pit down to 150m you'd have water flowing right into it. They now have a market cap of 530m CAD. With Only 127m SOI but no JORC.

I'd say most of the attention they have received has come from the TSXV listing.

Winsome resources is already listed on the Frankfurt exchange.. The OTC will hopefully come soon and could be an unexpected announcement leading up to drilling.

WR1

Plenty of upside to come and as @seaemay pointed out, us also having a low amount of shares on issue will propel our shareprice.

However, it depends how the company goes about this.. Knowing the company will raise money either side of the JORC is going to make investors weary and out brakes on the SP. Feasibility studies are also not cheap by any means. Neither will it be cheap to explore all the tenements WR1 hold.

So we will suffer dilution but none the less we start from a good base. Companies like CXO and the likes had to endure low level dilution as lithium prices were at rock bottom.

With advanced exploration it means we are free from heritage surveys, rock chip sampling and modelling to a small degree enabling the company to be at the right place at the right time for a genuine lithium explorer. Not to mention a lot of metwork already conducted at the flagship project, cancet.

Expand

Nice to see you don’t need a jorc to get the sp pumping….all depends on hitting thick intervals.

Regarding dilution, it’s up to Chris to produce results and get the sp as high as possible before any cr/dilution comes into play. Strategically it may not be smart to throw money at more tenements or try and explore too many different deposits just to run out of money before any of them is further advanced. I honestly think concentrating on Cancet and Adina alone will get us there. Decelles has huge potential so I can understand the temptation in poking a few holes there. Now that we also have sirmac, I really don’t think we need to spend money at this stage for more additional projects but concentrate on getting sp high and delaying dilution to less the impact. In fact I think we should let someone else have a go at sirmac and retain a 30% free carry.

Nonetheless it is a good position be in when there are too many options rather than few. This and a decent amount of cash to play with is the reason why I bought into this stock.

Last edited by Kaeho: 31/08/22

WR1 Price at posting: 27.5¢ Sentiment: Buy Disclosure: Held
10 Upvote

0 Great analysis

Reply