Steve, the truth probably is that management initiated the...

Steve, the truth probably is that management initiated the latest CFTF application when the SP was in fact sitting at $1.30+. Those things aren't applied for and approved in five minutes I'm sure, and probably over a couple of weeks or more. In that time the lithium price dropped further as well as certain instos/brokers most likely gaining knowledge of the upcoming CR (as they always seem to) - notably Argonaut? The result was exactly then what may have been expected. With the benefit of hindsight management should probably have applied for the funding a couple of weeks prior to the Renard announcement and then they may have got it through at 20c higher. It's all water under the bridge now, though, and in any case, along with most lithium stocks, we would probably have been smashed just the same and not much higher right now anyway. It could have been worse still had they not done that CR at all and left us at the mercy of the market later in the year with remaining funds under $10M. As it is they should now have adequate funds to achieve the aims they've set out for the next seven months.

I think you're right in your suggestion that WR1 will be in a far better position than most peers if Renard is taken up. It looks as though it's going to be a super hard road ahead for all up and comers, and particularly in Canada, but IF the demand for lithium picks up we will be one of the most likely to succeed in producing, or else being taken over prior to that. If demand from the West never picks up, as Big Kev would have us believe, then we'll probably go down in flames like the rest in Canada. I guess we'll find out in due course, but I prefer our chances over a few other companies that will struggle to ever finance construction unless prices move significantly higher.