I agree with your viewpoint on M&A. I was quite frustrated when I heard the CEO says that WR1 is not pursuing strategic partnerships and takeover offers.
What? Closing the door for strategic partners and TOs is not a good strategy. Canada is not a cheap place for mining. Given current Li price, the Canadian government may not even approve permits.
I’m puzzled why the CEO like engaging in Canadian flow-through funds, a mechanism that no longer impresses the market.
The so-called premium offered to Canadian investors seems more like a discount to institutions via the flow-through mechanism.
If this approach is used again, I fear the SP may suffer another decline.
It’s perplexing why this method would be considered again if a strategic partner can offer a better price than that discount price given to institutions under Canadian flow through raising.
Given the current sentiment, it seems only a substantial TO or Li price recovery could halt the SP’s downward trend.
For my part, I sold 20% of my holdings at $1.15 when WR1 recently raised funds at $1.2 (so-called $2.38 per share) using the Canadian flow through funds in October.
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Last
56.0¢ |
Change
0.025(4.67%) |
Mkt cap ! $124.0M |
Open | High | Low | Value | Volume |
57.0¢ | 57.0¢ | 54.0¢ | $132.7K | 238.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 7779 | 55.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
56.5¢ | 16778 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 7779 | 0.555 |
4 | 9305 | 0.550 |
6 | 17242 | 0.545 |
4 | 36086 | 0.540 |
4 | 13290 | 0.535 |
Price($) | Vol. | No. |
---|---|---|
0.565 | 16778 | 3 |
0.570 | 40270 | 4 |
0.575 | 47285 | 7 |
0.580 | 44923 | 4 |
0.585 | 40000 | 2 |
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