Latest news with #RenardOption
Cision Canada
17-06-2025
- Business
- Cision Canada
WINSOME RESOURCES COMPANY UPDATE Français
HIGHLIGHTS In line with broader lithium sector capital management and investment decisions, Winsome is unlikely to exercise the Renard Option on the current terms by August 2025, unless market conditions improve. The Company continues to work collaboratively with Stornoway and engage with various Quebec and Canadian government stakeholders, and will update the market should any major developments arise in due course Winsome may revisit the Renard operation and associated infrastructure beyond August 2025 if market conditions improve, provided Stornoway chooses not to rehabilitate the site or sell it to another party. Winsome remains committed to advancing the Adina Lithium Project, continuing to invest in its development and strategically positioning both the project and the Company to capitalise on future opportunities. With A$18.7 million in cash, Winsome is well-funded to continue advancing the Adina Lithium Project cost-effectively, while also evaluating complementary opportunities within the sector. MONTREAL, June 17, 2025 /CNW/ - Lithium explorer and developer Winsome Resources (ASX: WR1); " Winsome" or "the Company") provides the following update to shareholders. As the global lithium market faces volatility and broader macroeconomic uncertainties persist, Winsome is reassessing its strategic priorities. This includes evaluating ongoing and future commitments, particularly the option over the Renard operation and associated infrastructure (" Renard", the " Renard Option") and ensuring the Company's capital is deployed effectively to maximise shareholder value. The financial commitment to both acquire and maintain Renard represents a significant deployment of capital at a time when a number of industry peers are reducing or deferring capital investments. While Winsome remains committed to its key focus, developing the Adina Lithium Project (" Adina" or " the Project"), evolving market conditions have led to a necessary reassessment of capital-intensive decisions, such as exercising the Renard Option, until clearer market dynamics emerge. Winsome is closely monitoring broader market developments in the energy and battery metals sectors, assessing potential complementary opportunities aligning with its expertise and long-term objectives. This balanced approach ensures Winsome is well positioned to navigate sector uncertainties while staying focused on the development of its flagship Adina Lithium project, which remains central to its strategy. Renard Option and Engagement with Stornoway To this end, while no final decision has been made, given the current market conditions and broader sector uncertainty, including delays in capital investment decisions, Winsome's present position is it is unlikely it will exercise the Renard Option in its current form unless there is a significant improvement in the context. Any final decision on the exercise of the Renard Option will be made by Winsome by the end of August 2025. Winsome is actively engaging with Stornoway, the Quebec and Canadian governments and other key stakeholders and remains committed to collaborating in good faith to exploring opportunities to work together in a collaborative manner. Winsome believes as long as the Renard site is not sold or rehabilitated, the Renard opportunity is expected to remain available to the Company and may be revisited in the future. Winsome will keep shareholders updated with respect to the Renard Option in accordance with its disclosure obligations. "While we face challenging market conditions, Winsome remains committed to delivering value for our shareholders. Winsome's Directors have successfully navigated previous lithium market cycles to deliver lithium projects into production, and we see huge upside for Winsome through advancing the Adina Lithium Project towards development and production in a timeframe aligned with lithium market recovery. While the Renard Option remains on the table, we are realistic about current market dynamics and as a result it is unlikely Winsome will exercise the option unless conditions improve." Chris Evans, Managing Director. Adina Lithium Project Progression Winsome's primary focus remains developing the lithium resource at Adina, which continues to progress towards key development milestones. Winsome is focused on maintaining flexibility in the Project's development approach, allowing for adaptations based on the prevailing market conditions and available capital. The near surface, high grade nature of mineralisation at Adina ensures the project remains an attractive development opportunity. The Company continues to explore potential partnerships and funding avenues to advance Adina and maximise its long-term potential. To learn more about Winsome Resources, follow the link to the ASX release of June 17 th 2025, This press release has been authorized for issue by the Managing Director of Winsome Resources Ltd, Chris Evans. ABOUT WINSOME RESOURCES Winsome Resources (ASX:WR1) is a lithium focused exploration and development company with several projects in the Eeyou Istchee James Bay region of Quebec, Canada. Our flagship project is Adina - a 100%-owned lithium resource considered a tier-one asset in a low-risk mining jurisdiction and one of the most capital efficient projects in North America with competitive operating costs. The hard rock spodumene lithium deposit is near surface with a +20-year project life and a NI 43-101 compliant Mineral Resource Estimate comprising a tonnage of 60.5 million tonnes at a grade of 1.14% Li 2 O in the Indicated category and 15.9 million tonnes at a grade of 1.17% Li 2 O in the Inferred category. The Company acquired an exclusive option to purchase the Renard Operation in April 2024; a mining and processing site located approximately 60 kilometres south (in a straight line) of Adina. The Renard Operation has an established airport, power station, water treatment plant, workshops, processed mineralised material storage and a substantial camp. It also has several mineral processing and operating permits which may advance Winsome's pathway to lithium production. Importantly Renard already includes extensive production facilities which consists of a primary jaw crusher, secondary cone crusher, high-pressure grinding rolls, ore sorting, and DMS circuits necessary for lithium processing and spodumene concentrate production. In addition to its impressive portfolio of lithium projects in Quebec, Winsome Resources owns 100% of the offtake rights for lithium, caesium and tantalum from Power Metals Corp (TSXV: PWM) Case Lake Project in Eastern Ontario, as well as an equity stake in PWM (together with a right to be issued a further 17,650,000 common shares in PWM on completion of the sale of the Decelles and Mazerac projects). Winsome is led by a highly qualified team with strong experience in lithium exploration and development as well as leading ASX listed companies. CAUTION REGARDING FORWARD-LOOKING INFORMATION This document contains forward-looking statements concerning Winsome. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory, including environmental regulation and liability and potential title disputes. Forward-looking statements in this document are based on the Company's beliefs, opinions and estimates of Winsome as of the dates the forward-looking statements are made, and no obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
Associated Press
17-02-2025
- Business
- Associated Press
Funding Secured to Advance the Adina Lithium Project and Extend the Renard Option
Highlights Firm commitments received for ~A$7.8 million placement at an issue price of A$0.36 per share to advance Winsome's Adina Lithium Project into development. Strong support provided by existing shareholders alongside new domestic and global investors underpins Winsome's pathway to production strategy. The Company intends to undertake a share purchase plan for existing shareholders to raise up to A$2.5 million on the same terms as the Placement. Strengthened balance sheet provides Winsome with a significant runway to extend the Renard Option to 31 August 2025, advance Adina Lithium project studies, assess carbon sequestration opportunities, and explore opportunities to bring in a strategic partner and assess various commercial and corporate opportunities to reduce the costs associated with the potential acquisition. MONTREAL, Feb. 17, 2025 /PRNewswire/ - Lithium explorer and developer Winsome Resources (ASX: WR1) ('Winsome' or the 'Company') is pleased to announce it is raising capital through a placement and a share purchase plan for existing shareholders. Firm commitments have been received for A$7.84 million in funding via the Institutional Share Placement ('Placement') to advance the Adina Lithium Project ('Adina') into project development and to explore and grow Winsome's Mineral Resources. Winsome will also offer existing shareholders the opportunity to participate in the capital raise via a Share Purchase Plan ('SPP'). Alongside the Placement, Winsome has agreed to amend the Call Option Agreement with Stornoway Diamonds (Canada) Inc. ('Stornoway') and 11272420 Canada Inc. (together the 'Vendors') pursuant to which Winsome has an option ('Option') to acquire all of the issued capital in Stornoway, the entity holding the assets comprising the Renard diamond mine, processing facility and associated infrastructure ('Renard Project' or 'Renard').1 Funds raised from the Placement will be applied to: Extending the Renard Option to 31 August 2025 at a cost of C$8.5 million, Advancing Adina Lithium Project studies, Investigating Carbon Dioxide Removal ('CDR') opportunities, and General working capital and costs of the Offer. 'The additional funds put Winsome in a strong financial position to advance the Adina Lithium Project, which comprises one of the largest and growing lithium deposits in North America, an exclusive option to acquire the billion-dollar Renard operation and associated infrastructure and a clearly defined pathway to production."- Chris Evans, Managing director 'Winsome Resources is firmly committed to developing the Adina Lithium Project and is pleased to see the significant level of interest from high conviction investors who believe in Winsome's vision of integrating into the North American EV supply chain."- Carl Caumartin, General Manager - Canada To learn more about the filing of the extension of the Renard Option , follow the link to the ASX release of February 17th 2025, This announcement is authorised for release by Managing Director of Winsome Resources Ltd, Chris Evans. ABOUT WINSOME RESOURCES Winsome Resources (ASX:WR1) is a lithium focused exploration and development company with several projects in the Eeyou Istchee James Bay region of Québec, Canada. Our flagship project is Adina - a 100%-owned lithium resource considered a tier-one asset in a low-risk mining jurisdiction and one of the most capital efficient projects in North America with competitive operating costs. The hard rock spodumene lithium deposit is near surface with a +20-year project life and a NI 43-101 compliant Mineral Resource Estimate of comprising a tonnage of 60.5 million tonnes at a grade of 1.14% Li2O in the Indicated category and 15.9 million tonnes at a grade of 1.17% Li2O in the Inferred category. The Company recently acquired an exclusive option to purchase the Renard Operation, a mining and processing site located approximately 60 kilometres south (in a straight line) of Adina. The facility has an established airport, power station, water treatment plant, workshops, processed mineralised material storage and a substantial camp. It also has several mineral processing and operating permits which may advance Winsome's pathway to lithium production. Importantly, Renard already includes extensive production facilities which consists of a primary jaw crusher, secondary cone crusher, high-pressure grinding rolls, ore sorting, and DMS circuits necessary for lithium processing and spodumene concentrate production. In addition to our portfolio of lithium projects in Québec - Adina, Cancet, Sirmac-Clapier and Tilly - Winsome Resources owns 100% of the offtake rights for lithium, caesium and tantalum from the Case Lake Project in Eastern Ontario, owned by Power Metals Corp (TSXV:PWM), as well as a 19.6% equity stake in PWM. Winsome is led by a highly qualified team with strong experience in lithium exploration and development as well as leading ASX listed companies. CAUTION REGARDING FORWARD-LOOKING INFORMATION This document contains forward-looking statements concerning Winsome. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory, including environmental regulation and liability and potential title disputes. Forward-looking statements in this document are based on the Company's beliefs, opinions and estimates of Winsome as of the dates the forward-looking statements are made, and no obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
