{"id":2992,"date":"2023-12-11T02:19:25","date_gmt":"2023-12-11T02:19:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=2992"},"modified":"2023-12-11T02:19:25","modified_gmt":"2023-12-11T02:19:25","slug":"winsomes-chris-evans-talks-lithium-prices-partners-ma-and-that-monster-adina-resource","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2992","title":{"rendered":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource"},"content":{"rendered":"

Winsome Resources (ASX:WR1) releases maiden 59Mt @1.12% resource at Adina in James Bay
\nTop 5 North American resource Comes just two years from listing on ASX
\nWR1 managing director Chris Evans expects lithium prices in improve next year
\nWr1 continues to be \u2018bombarded by requests to engage\u2019 with strategic partners: Evans
\nResource update due H1, project study H2<\/p>\n

\u00a0<\/p>\n

Quiet achiever Winsome Resources (ASX:WR1)<\/a> has unveiled a long awaited maiden 59Mt @1.12% maiden resource for the Adina lithium project in James Bay.<\/p>\n

Long overshadowed by overachieving neighbours Patriot (ASX:PMT)<\/a> and Allkem (ASX:AKE)<\/a>, WR1 is now once of the top 5 hard rock lithium players in North America.<\/p>\n

The resource surpasses Canaccord\u2019s guess of 40Mt at 1.2% back in July<\/a>.<\/p>\n

It comes just two years since listing and a year since it discovered the main zone at Adina, one massive body of lithium which starts at surface.<\/p>\n

With any luck this orebody all be mineable in one pit, the company says, even as the resource expands beyond its current 1.3km strike length.<\/p>\n

Five rigs are turning ahead of a resource update is in the first half of next year, with 50km of infill and extensional drilling planned for 2024.<\/p>\n

The scoping study\/PEA study \u2013 the first proper look at the economics of building a project \u2014 are due out in the second half.<\/p>\n\n

\ufeff<\/span><\/span>\u00a0<\/p>\n

\u2018Bombarded by requests to engage\u2019<\/h2>\n

With ~$69m in the bank at the end of October, WR1 managing director Chris Evans isn\u2019t worried about short term weakness in the lithium market.<\/p>\n

\u201cPricing will remain fairly weak in the first quarter and start to improve after that,\u201d he said during an investor call.<\/p>\n

\u201cBut to us, to some extent, the pricing doesn\u2019t matter in the short term because we are fully financed to conduct all our activities next year.\u201d<\/p>\n

While demand WR1 sees from strategic players remains encouraging, but there\u2019s no point bringing in an industry elephant for the sake of it, Evans says.<\/p>\n

\u201cWe continue to be bombarded by requests to engage,\u201d Evans says.<\/p>\n

\u201cWe have had a significant amount of interest from various strategics all along the battery materials supply chain, from OEMs to lithium miners, to traders, to battery makers.<\/p>\n

\u201cThey have all been of an exploratory nature thus far, and we have taken the approach that we are not ready to engage yet.<\/p>\n

\u201cWe have upgrades to the resource, we have studies coming up in the second half of next year \u2013 through all of this we are organically building value in Winsome.\u201d<\/p>\n

There there will be a point, perhaps next year, where it is going to be worth investigating whether bringing in a strategic partner, Evans says.<\/p>\n

\u201cExternal validation, funding, or the achievement of strategic aims \u2013 such as having our product remain in the North American battery materials supply chain \u2014 could be enough to bring a strategic on at some point,\u201d he says.<\/p>\n

Winsome Resources base camp in Quebec. Source WR1<\/p>\n

\u00a0<\/p>\n

Market disruptors won\u2019t disrupt us, Evans says<\/h2>\n

Evan was asked if market disruptors like new tech<\/a>, regulatory changes, competitive entrants, and environmental\/social factors could hobble WR1\u2019s ambitions over the next year or two.<\/p>\n

\u201cAll of those things could influence the industry in general. For us, I feel our path is well set,\u201d he says.<\/p>\n

\u201cI don\u2019t think technological advancements will change the industry a great deal between now and the time we plan to come into production.<\/p>\n

\u201cWe reason we love Canada and Quebec is that it is a very stable regulatory environment.<\/p>\n

\u201cBroadly speaking, we are so well financed for our drilling and studies next year, I can\u2019t see too many factors that will disrupt us.\u201d<\/p>\n

\u00a0<\/p>\n

Canada M&A?<\/h2>\n

Evans says the M&A blitz which hit the WA hard rock scene will at some point turn to Canada, and Quebec in particular, where there a several very significant lithium resources.<\/p>\n

\u201cThe M&A so far in WA has been perhaps for nationalistic reasons, and because those conducting the M&A already have established operations in WA,\u201d he says.<\/p>\n

\u201cCanada is a slightly different story, but in the meantime, we are de-risking our project day by day.<\/p>\n

\u201cI think eventually M&A activity will come to Canada, [and] we intend to be well prepared by then.\u201d<\/p>\n

Quebec. Source: WR1.
\n<\/span><\/p>\n

The post Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Winsome Resources (ASX:WR1) releases maiden 59Mt @1.12% resource at Adina in James Bay Top 5 North American resource Comes just two years from listing on [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2993,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWinsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=2992\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Winsome Resources (ASX:WR1) releases maiden 59Mt @1.12% resource at Adina in James Bay Top 5 North American resource Comes just two years from listing on [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=2992\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-11T02:19:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource\",\"datePublished\":\"2023-12-11T02:19:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992\"},\"wordCount\":753,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WR1-Quebec-1H8RGR.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=2992#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=2992\",\"name\":\"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WR1-Quebec-1H8RGR.jpeg\",\"datePublished\":\"2023-12-11T02:19:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=2992\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WR1-Quebec-1H8RGR.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WR1-Quebec-1H8RGR.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2992#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=2992","og_locale":"en_US","og_type":"article","og_title":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald","og_description":"Winsome Resources (ASX:WR1) releases maiden 59Mt @1.12% resource at Adina in James Bay Top 5 North American resource Comes just two years from listing on [more...]","og_url":"https:\/\/economicherald.net\/?p=2992","og_site_name":"Economic Herald","article_published_time":"2023-12-11T02:19:25+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=2992#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=2992"},"author":{"name":"","@id":""},"headline":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource","datePublished":"2023-12-11T02:19:25+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=2992"},"wordCount":753,"commentCount":0,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=2992#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/economicherald.net\/?p=2992#respond"]}]},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=2992","url":"https:\/\/economicherald.net\/?p=2992","name":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=2992#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=2992#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg","datePublished":"2023-12-11T02:19:25+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=2992#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=2992"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=2992#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WR1-Quebec-1H8RGR.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=2992#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Winsome\u2019s Chris Evans talks lithium prices, partners, M&A and that monster Adina resource"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/2992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2992"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/2992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/2993"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}