Winsome Resources (ASX:WR1) Announces Strategic Investments and Lithium-Cesium Discovery
Strategic Investments
Winsome Resources holds a 19.6% stake in Power Metals Corp. (TSXV: PWM), currently valued at A$23 million. Additionally, the company owns all offtake rights for cesium, lithium, and tantalum for the Case Lake project, acquired at a 5% discount to the Asia Metals Market Pricing.
Project Developments
Power Metals is advancing its Case Lake Project in Ontario, Canada, engaging Canaccord Genuity Corp. as a financial advisor and DRA Global to conduct a maiden Mineral Resource Estimate and Preliminary Economic Assessment in the first half of 2025. At Winsome’s Sirmac-Clapier Project, a new high-grade lithium-cesium discovery was announced, with Dr Nigel Brand assisting in data review.
Executive Comments
Managing Director Chris Evans stated, “It is pleasing to see first hand the success Power Metals has enjoyed with its recent drilling intersections of high grade cesium in pollucite. The cesium mineralisation at Case Lake is unique from a global perspective and our stake in Power Metals provides Winsome with exposure to this strategic critical mineral, adding significant value to Winsome’s portfolio. Initial review indicates that Case Lake could be a globally significant cesium deposit and Winsome shareholders should look forward to the maiden resource and PEA due in the first half of 2025.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.