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WFE - Winmar Resources

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Winmar Resources Limited (WFE) is an Australian based mineral exploration company. The Company has entered into a Farm-in Heads of Agreement for the sole and exclusive right to earn-in to a 51% equity interest in the Hamersley Iron Project located in the Pilbara region of Western Australia.

The Hamersley Project comprises of one Exploration Licence (E47/1617) and one Mining Lease (M47/1450).

The Project is located approximately 50 km northeast of the Tom Price township in the Pilbara Region of Western Australia and lies immediately south of Fortescue Metals Group's Solomon project.

http://www.winmarresources.com
 
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Winmar Resources Limited (WFE) is an Australian based mineral exploration company. The Company has entered into a Farm-in Heads of Agreement for the sole and exclusive right to earn-in to a 51% equity interest in the Hamersley Iron Project located in the Pilbara region of Western Australia.

The Hamersley Project comprises of one Exploration Licence (E47/1617) and one Mining Lease (M47/1450).

The Project is located approximately 50 km northeast of the Tom Price township in the Pilbara Region of Western Australia and lies immediately south of Fortescue Metals Group's Solomon project.

http://www.winmarresources.com
Hit the boards today and looking ok.

Soem decent people on board here with some Io pedigree. Bought some in the IPO so looking good.

http://www.theaustralian.com.au/bus...wran-back-winmar/story-e6frg8zx-1226013131009
 
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not sure how I missed this one ... does look interesting will start having a look at the information today. .
 
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not sure how I missed this one ... does look interesting will start having a look at the information today. .
have had a bit of a look through the prospectus, basically the resource currently drilled has come over from Cazaly and WFE are looking to extend drilling along strike, mainly relying on a solid first year and burning most of the free cash during 2011.

Here's the bones of the deal;

WFE prospectus said:
Winmar has entered into an Agreement with Cazaly Iron Pty Ltd
for the sole and exclusive right to earn-in to an initial 51% interest
in the Hamersley Project by paying $400,000 (amount already
paid) and a further $3.1 million plus 2.5 million Shares by 27 March
2011 (or such later date as may be agreed between Cazaly Iron
and Winmar) and by Winmar providing funding of up to $6 million
or completion of a DFS, at the earliest time (“Earn-in
Requirements”). During this period, Cazaly Iron’s interest in the
project is effectively free carried. Prior to Winmar fulfilling its Earnin
Requirements, Cazaly Iron will manage and operate the Project.
Furthermore, Winmar may acquire 100% of the project by paying
Cazaly Iron $0.50/tonne of its participating interest in a JORC
compliant mineral resource within 18 months, or if between 18
months and 36 months, $1.00/tonne of Cazaly Iron’s participating
interest in a JORC compliant mineral resource.
Further outline on WFE's intentions;

prospectus excerpt.png

Additionally they got an honourable mention in the fin review today with notes saying Forrest is on board as is Malcolm Turnbull. On the board sits some prominent people as well which may have eased the issue. This has prospects, but the grades aren't overly wonderful - they do mention they are chasing DSO. See what the market thinks.
 
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Having a good day today.

I expect some good drill results are looming
 
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some drill results out this morning .. with immediate success..

Initial drilling results received
48m @ 57.4% Fe (61.0% CaFe), 50m @ 56.6% Fe (59.8% CaFe),
26m @ 56.2% Fe (58.6%CaFe), 28m @ 57.8% Fe (61.1% CaFe)
Low Phosphorus (≤0.05%)
All results are from holes located outside the current resource area, excellent
potential for future resource increases
RC drilling continuing, Diamond drilling due to commence
 
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http://www.wabusinessnews.com.au/en-story/1/88972/Cazaly-handballs-Hamersley-to-Winmar

Cazaly handballs Hamersley to Winmar
19-May-11 by Staff Reporters

Cazaly Resources has announced the execution of an agreement to offload its Hamersley iron project in the Pilbara to Winmar Resources for $35 million and a royalty grant.

The acquisition by Winmar is a variation of a farm-in heads of agreement signed by the two companies in October last year in regards to the Hamersley project.

Winmar is currently earning into a 51 per cent interest in the tenements, and will exercise an exclusive option to acquire the remaining 49 per cent from Cazaly.

Winmar will also pay an option fee of $100,000 for a two-month option period.

AT 11:13AM (WST) Cazaly shares had jumped 13.3 per cent, to trade at 34 cents, while Winmar's stock gained 4.17 per cent, to trade at 25 cents.
 

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http://www.wabusinessnews.com.au/en-story/1/88972/Cazaly-handballs-Hamersley-to-Winmar

Cazaly handballs Hamersley to Winmar
19-May-11 by Staff Reporters

Cazaly Resources has announced the execution of an agreement to offload its Hamersley iron project in the Pilbara to Winmar Resources for $35 million and a royalty grant.

The acquisition by Winmar is a variation of a farm-in heads of agreement signed by the two companies in October last year in regards to the Hamersley project.

Winmar is currently earning into a 51 per cent interest in the tenements, and will exercise an exclusive option to acquire the remaining 49 per cent from Cazaly.

Winmar will also pay an option fee of $100,000 for a two-month option period.

AT 11:13AM (WST) Cazaly shares had jumped 13.3 per cent, to trade at 34 cents, while Winmar's stock gained 4.17 per cent, to trade at 25 cents.
There are so many errors in this report it is ridiculous! They made it sounds like it's an agreement / acquisition when it is only an option being taken out. And the option fee is $100K for 1 month, not 2.
 

springhill

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Latest drill announcements from Hammersley


Drilling at Hamersley Iron Ore Project intersects significant extensions of mineralisation

Key points
● Step out drilling has confirmed significant extensions of Channel Iron Deposit (CID) mineralisation at Hamersley Iron project.
● Mineralisation intersected up to 800 metres from current Resource confirming significant lateral extension of CID.
● Current Drill program progressing well. Drill campaign consisting of;
o 5000m RC drilling designed to deliver significant Resource upgrade, and
o 600m of diamond drilling to provide core for Metallurgical Test work.

Significant Drilling intercepts from Hamersley Project
Key points
● Winmar has completed a 20 hole, 4012m RC drill program at Hamersley Iron project in the Pilbara region of WA.
● Results from first 11 drill holes have been received with significant intercepts intersected in 7 of these holes.
● High grade intercepts of up to;
o 28m @ 57.03% Fe (60.63% Calcined Fe) in PLRC0145 along with
mineralised CID zones of up to 90m @ 51.63% Fe (55.98% Calcined Fe) in PLRC0154 on the northern extent of drilling.
● Assay results from remaining 9 holes will be released in due course.
● Diamond Rig has commenced PQ drilling for Metallurgical samples from the CID
● Drilling designed to deliver a significant Resource upgrade, due in Q3, which will be used to provide an updated scoping study and in mining plans.



They have managed to raise funds in a pretty good deal for them.

10th Feb
Winmar Resources announce that $2.18 million has been received as part of the placement of $3 million to PXSteel International Asia Corporation Limited (PXSteel).The placement is by way of 15 million ordinary Winmar shares at $0.20 per share. This represents a 100% premium to Winmar’s current share price, as at close of trade on 8 February 2012.
The remaining $820,000 will be paid by PXSteel subject to an independent expert’s report and shareholder approval which will be sought at an EGM, to be convened in the near future. The independent expert’s report and shareholder approval are required due to the fact that PXSteel shareholding in the Company will exceed 20%.


Winmar entered into a Memorandum of Understanding) with PXSteel in November. Pursuant to the MoU, PXSteel made an initial, 1st Tranche, investment in Winmar of 6.5 million ordinary shares at $0.10 per share, to raise $650,000 (see ASX announcement, 29 November 2011).
PXSteel subsequently completed a due diligence process, and the two parties have entered into a binding agreement to place $3 million at $0.20 per share.

17th May
Winmar Resources Limited announce that it has completed a $3 million placement to PXSteel International Asia Corporation Limited (PXSteel).
Winmar advises that it has now received funds from the second tranche of the placement, being $820,000 via the issue of 4.1 million Winmar shares at $0.20 per share. This represents a 100% premium to Winmar’s current share price, as of 16 May 2012.
The second tranche of the placement was subject to an independent expert’s report and shareholder approval, which was required as PXSteel’s shareholding in the Company will exceed 20%.
 

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springhill

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Outstanding High Grade Drilling intercepts from Hamersley Project

● Winmar has received results from the remaining 9 holes of its recently completed RC drill program at the Hamersley Iron project.
● Results have produced further high grade intercepts of iron mineralisation with significant intersections in 6 holes.
● Highlight results include an outstanding high grade intercept of;
o 74m @ 59.15%Fe (60.47% Calcined Fe) from 28m in PLRC0162,
within a CID zone of 102m thickness.
● Other high grade intercepts included;
o 28m @ 57.62% Fe (60.21% Calcined Fe) in PLRC0158 and
o 32m @ 56.81% Fe (60.57% Calcined Fe) in PLRC0159
● Shallow high grade Detrital mineralisation was encountered above the CID in 3 holes in the south west of the deposit adjacent to hole PLRC0162.
● This shallow high grade CID and Detrital zone will be the initial focus of development plans at the project.
● Drilling designed to deliver a significant Resource upgrade, due in Q3, which will be used to provide an updated scoping study and mining plans.
 

springhill

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Exploration and Development Plans


Winmar’s priorities for its 2012 works program at the Hamersley project are:
 Defining the extent of the current Resource base
 Extending the Resource base
 Improving Metallurgical understanding at the project
 Progressing infrastructure access negotiations
 Native Title agreements, including Heritage agreements
 Base line environmental studies
 Defining new regional targets, and
 Mining Plans
 
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Anyone else running a ruler over this company? Or scared off waiting for more capital raisings?
 
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Another stock that hasn't been mentioned in a long time.

Dodgy board members are out. Great geologist promoted and within a week has signed off on government approval, landholder approval, signed drilling mob to hit the ground in Jan. Road Sainty is highly respected Geologist and this stick is sitting on some serious wealth. Old (1984) results show 60,000koz gold + copper all at shallow depth with no wider exploration. Wasn't viable with gold prices where they were back then. with under 3.3MC I don't think there is any other penny stock I've brought into at such cheap price and had confidence in. I won't post the whole story, DYOR. but this is due for a VERY quick re-rate. Also have hamersly project which can be sold off to any of the large players surrounding them to support exploration without CR.

*I'm talking about Lomero copper-gold project now. Their new mine. The old mine will likely be sold off to fund
 

greggles

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Winmar Resources re-instated to official quotation after a week long trading halt. Two announcements were released following the company's re-reinstatement.

The first advised that WFE had secured $3.1 million in funding, $2.1 million from a private placement and a further $1 million from a conditional private placement, both to "Professional and Sophisticated Investors".

Here's the key part of the announcement:
$3.1 Million Funding Secured to Advance Cobalt Acquisition Strategy

Winmar Resources Ltd (ASX: WFE) (Winmar) is pleased to announce it has secured commitments for approximately $3.1 million in funds via the combination of a firm $2.1 million private placement offer (Placement) made to Professional and Sophisticated Investors and a $1.0 million conditional private placement (Conditional Placement) made to Professional and Sophisticated Investors, subject to shareholder approval.

The funds raised from both Placements will be used to fund due diligence on potential new cobalt acquisitions in the Democratic Republic of Congo and up-front payments on any new acquisitions made. The funds will also be used for general working capital requirements including corporate and administration costs and exploration costs incurred across the Company's other projects.

The Company is seeking to acquire exploration and mining licenses in the Democratic Republic of Congo that are considered highly prospective for cobalt and with the capability to be advanced rapidly towards production. The Democratic Republic of Congo presently accounts for over 60% of the world's supply of cobalt and it is generally agreed in industry circles that the region will remain the primary source of cobalt into the foreseeable future.

Shares in the Placements were offered at a price of $0.005, a price that is five times higher than the offer made under the recent Rights Issue in October 2017 and the highest price that the Company has secured funding at in almost four years. It is anticipated that all funds for the Placement will be received and shares allotted to participants by the end of this week.
The second announcement concerned the appointment of Singapore-based Airguide International Pte Limited as the company's Strategic Advisor "to facilitate and advise the Company on key relationships and a broader strategic work program aimed at securing value-adding commercial agreements with relevant counter-parties."

WFE headed north on the news, climbing 150% to 1.5c. Volume was a colossal 891 million shares.

Winmar Resources lost $831,600 in the half year to 31 December 2017 and at that time had only $347,213 cash remaining, so the funds raised came just before the company was due to run out of cash. So I can't help wondering, is this move just a desperate pump or signs of a possible turnaround. I suppose it's too early to call at the moment.

screenshot-shareinvesting.anz.com-2018-03-20-18-49-05.png
 

greggles

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Winmar Resources extending last week's run today. Up 31.25% to 2.1c. Huge volume of 179 million shares traded.

screenshot-shareinvesting.anz.com-2018-03-26-18-35-03.png
 
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• Offtake: Winmar Resources Limited ("Winmar")(ASX:WFE) has on 23 August 2018 signed with Red Rock a Non-Binding Indicative Ore Purchase Agreement, under which Red Rock would supply copper and cobalt ores from its projects in the DRC to the Luapula Cobalt Processing Facility located near the town of Likasi in Haut-Katanga Province, the DRC. On 23 July 2018 Winmar announced a Binding Heads of Agreement for Cobalt Production Joint Venture to acquire an interest in and refurbish this facility. Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw

This has not been announced on ASX. WFE shares remain suspended.
 
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• Offtake: Winmar Resources Limited ("Winmar")(ASX:WFE) has on 23 August 2018 signed with Red Rock a Non-Binding Indicative Ore Purchase Agreement, under which Red Rock would supply copper and cobalt ores from its projects in the DRC to the Luapula Cobalt Processing Facility located near the town of Likasi in Haut-Katanga Province, the DRC. On 23 July 2018 Winmar announced a Binding Heads of Agreement for Cobalt Production Joint Venture to acquire an interest in and refurbish this facility.
Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw

This has not been announced on ASX. WFE shares remain suspended.
'In accordance with the terms of the Agreement, an adjustment is being made by our local partner, Vumilia Pendenza S.A.("VUP") to ensure that the areas comprising the Project have acceptable quantities and grades of mineralisation. This may involve, as noted in the announcement of 26 September 2017, adding areas; it may also involve dropping certain of the areas and substituting others.'

The above from the link: Https://polaris.brighterir.com/public/red_rock_resources/news/rns/story/w36dpyw

The above was originally principally about the tailings area that was taken away from Red Rock. Gecamines later gave 3 other areas to RRR.
 
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