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WC8 - Wildcat Resources

greggles

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FRN awakening from its slumber today after the company announced that it has entered into a conditional agreement to acquire Wildcat Resources Limited which holds the Mount Adrah Gold Project, a highly prospective 200km² tenement package located within the well-endowed Lachlan Orogen region in NSW.

The Mount Adrah Gold Project hosts the Hobbs Pipe gold deposit, with an existing JORC 2012-compliant Mineral Resources estimate of 770,000oz Au:
  • 12.1Mt @ 1.1g/t for 440,000 oz (Indicated Resources)
  • 8.4Mt @ 1.1g/t for 330,000 oz (Inferred Resources)
Consideration for the acquisition is all-scrip with the details being:

(i) issue of 63,875,000 OrdinaryShares to the Vendors (or their nominees) (Initial Consideration)(at a deemed issue price of 1.6c per share);
(ii) issue of 67,000,000 A class Performance Shares to the Vendors (or their nominees) (Performance A Shares), on the terms and conditions set out in Annexure A;
(iii) issue of 67,000,000 B-class Performance Shares to the Vendors (or their nominees) (Performance B Shares), on the terms and conditions set out in Annexure A; and
(iv) 20,000,000 unquoted Options exercisable at $0.04 each on or before the date that is three (3) years after their issue (Consideration Options)

At the end of the last quarter, FRN had $1.978 million in the bank, but they haven't been burning much with only $235,000 in estimated cash outflows in the current quarter.

Not sure what this acquisition means for FRN in the long term but it's certainly put a bit of life into its share price today, currently up 20% to 2.4c with 30 million shares traded.
 
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FRN website: https://www.frmetals.com.au/

The company's website is rather sparse and it is some years since the Fraser Range boom in 2012 and not long after the company had plans to split into three dynamic forces. Unfortunately there was a split into two and no dynamism at all, only a loud SPLAT. To the directors credit they soldiered on keeping costs unbelievably low and may just pull something off. Downside, I'm not sure what but may be worth a punt in the dark.
 
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On July 23rd, 2020, Fraser Range Metals Group (FRN) changed its name and ASX code to Wildcat Resources Limited (WC8).
 
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I've held this share for years and seen the price descend relentlessly and added a few here and there. Presently in a 'Trading Halt' (pause), and maybe times are looking up. It was split in two some years back so maybe the loss isn't quite so bad after all. Also tied in with Segue Resources in 2014 when they purchased the Plumridge assets.
 

Ann

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One for the watchlist or the brave? This has a pretty decent gap to fill but in the meantime, it has lifted above the 200dsma.

WC8 30.3.22.png
 
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WC8 are in Trading Halt pending an announcement. It does not appear to be a cash raising.
 

Dona Ferentes

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WC8 are in Trading Halt ... It does not appear to be a cash raising.

WILDCAT RESOURCES (ASX:WC8)

The explorer has finally emerged from suspension after negotiating the nuts and bolts of another lithium acquisition in the Pilbara.

The historical Tabba Tabba tantalum mine and lithium-tantalum project includes a bunch of mining leases – important if you want to get into production quickly — large areas of outcropping pegmatites, and a high-grade 318,000t at 950ppm Ta2O5 tantalum deposit.

The project, briefly explored by Pilbara Minerals (ASX:pLS) in 2015, was historically a tanty asset so assays for lithium are limited.

However, there are some nice hits like 8m at 1.42% Li2O from 4m for WC8 to follow up.

The deal will cost WC8 up to 250m shares worth $14.5m at current prices, which makes vendor GAM a major shareholder in WC8.

Tabba Tabba is a proven LCT pegmatite system that was within Pancontinental’s tantalum portfolio in the 1980s, along with Pilgangoora (Pilbara Minerals), Wodgina (Mineral Resources) and Yinnetharra (Delta Lithium),” WC8 exec Matthew Banks says.

Our technical team believes there is significant exploration upside at Tabba Tabba, it is located within granted mining leases and we have approval for a 200-hole drill program.

On deal completion we will welcome a range of major shareholders to the company and look forward to following through with discovery-focussed drill programs earmarked for 2023.”

There’s also various net smelter royalties payable to GAM should the project enter production..
 

Dona Ferentes

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... It does not appear to be a cash raising.
But now there is....

WC8 has firm bids for a capital raising of 200,000,000 Shares at an issue price of 3.5 cents per Share to raise up to $7,000,000 before costs. The issue of shares in connection with the Capital Raising will, consistent with the issue of the Consideration Shares, the Success Fee, and the Introduction Fee, be subject to Wildcat obtaining shareholder approval under Listing Rule 7.1.

The directors of Wildcat (and / or their related parties) have, subject to Wildcat obtaining shareholder approval, subscribed for $750,000 in placement.

Wildcat has engaged advisors and brokers in respect of the Capital Raising and expects to pay fees of up to 5% of the amount raised..

As at the end of March 2023, WC8 had approximately $4.9m cash on hand. Upon receipt of funds, WC8 will have in excess of $10,000,000 cash on hand on a fully subscribed basis.

Screenshot_20230519-152055_CommSec.jpg


Junior forensics says "someone knew
"
 
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This is SimplyWallStreet's computerised robotic view of WC8. It appears up to date and so it is in some respects. However, be warned to only read it as a matter of interest which it is. Sometimes in fact quite often it is plain wrong - BE WARNED!.
 
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WC8 are up another 30% today on further thoughts about the acquired 100% of the Tabba Tabba Lithium-Tantalum Project (“the Project”) from Global Advanced Metals Wodgina Pty Limited.
 

Dona Ferentes

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WC8 peaked at $3.42 in March 2005.
[]
Ha ha.

On July 23rd, 2020, Fraser Range Metals Group (FRN) changed its name and ASX code to Wildcat Resources Limited (WC8).

How many capital raising, dilutions, share splits, considations, let alone board and mgmnt changes are refocuses, since then?? Comparing apples with toenail clippings, imo.
 
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Ha ha.

On July 23rd, 2020, Fraser Range Metals Group (FRN) changed its name and ASX code to Wildcat Resources Limited (WC8).

How many capital raising, dilutions, share splits, considations, let alone board and mgmnt changes are refocuses, since then?? Comparing apples with toenail clippings, imo.
Fraser Range Metals Group Limited engages in the exploration of mineral properties in Australia. It explores for nickel, copper, and gold in the Fraser Range region of Western Australia. The company was formerly known as AAQ Holdings Limited and changed its name to Fraser Range Metals Group Limited in February 2013. Fraser Range Metals Group Limited is based in Subiaco, Australia.

There was a 33 for 1 consolidation on February 6, 2013.
(b) consolidate the Company’s share capital on the basis that every 33 fully paid ordinary shares (Shares) be consolidated into 1 Share (Consolidation):

 AAQ announced the details of a reorganisation of the Company’s capital in a Notice of Meeting released to shareholders on the 29th October, 2010. Resolution 3 within that Notice of Meeting dealt with the Consolidation of the Company’s capital on a 1 for 5 basis.
 
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I am a strong holder of WC8 ( refer ASF thread" Storm at Sea" )
and have entered her in the ASF June REGATTA
This Chart is Priceless

Looks like a TOP
Smells like TOP
but This Is Not a TOP IMHO
WC8 d.png


Salute and Gods' Speed
Winners are Grinners
Captain Chaza (2).jpg
 
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Live Charts: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^WC8&p=0&t=1 - Daily
https://uk.advfn.com/p.php?pid=staticchart&s=ASX^WC8&p=5&t=1 - Longer Term
 
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Live Charts: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^WC8&p=0&t=1 - Daily
https://uk.advfn.com/p.php?pid=staticchart&s=ASX^WC8&p=5&t=1 - Longer Term
Going along like the clappers.
 
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