WIN - Widgie Nickel

[frugal.rock]

Only 2.9 quarters of funding left at last quarterly.

I feel another cap raise soon.
Recent funding (late May @$0.26) was supposed to be for advancing Edwards...?

Very interested in purchasing, however the financial position doesn't meet my rules, despite them only recently raising funds.

 

[Knobby22]

Only 2.9 quarters of funding left at last quarterly.

View attachment 160822

I feel another cap raise soon.
Recent funding (late May @$0.26) was supposed to be for advancing Edwards...?

Very interested in purchasing, however the financial position doesn't meet my rules, despite them only recently raising funds.

Which particular do you have Frugal rock that effects this.
2.9 quarters of funding isn't great.
The company needs more capital. To develop the reserves how much is needed? I suppose this is why the company was spun off.

 

[basilio]

I think there should be information on upcoming Lithium mine development in teh next month.
We'll see.

 

[basilio]

Just released further high grade Nickel results from the Widgie 3 drillings. Always encouraging.

High Grade Widgie 3 Nickel Results
Highlights

• Significant nickel mineralisation intercepts at Widgie 3 confirmed:
 Thick intercepts of high-grade nickel sulphide and PGE mineralisation confirmed
 Mineralisation remains open at depth with increasing grade interpreted down plunge
 Drilling results received will facilitate resource update with increased resource confidence

• High grade results will ultimately feed into the feasibility studies that envisions a more substantive nickel mining operation than just Armstrong, incorporating the Widgie South deposits (comprising Widgie 3, Widgie Townsite, Gillett and Gillett North), Armstrong and 132N supported by a standalone nickel concentrator

• Notable significant nickel intercepts include:
23MERCD073 15.47m @ 3.17% Ni, 0.27% Cu, 0.04% Co, 1.51g/t 3PGE from 301.00m
Incl 6.81m @ 5.92% Ni, 0.50% Cu, 0.07% Co, 2.58g/t 3PGE from 309.66m
23MERCD079 27.70m @ 1.26% Ni, 0.11% Cu, 0.02% Co, 0.50g/t 3PGE from 379.00m
Incl 2.39m @ 6.56% Ni, 0.68% Cu, 0.09% Co, 2.12g/t 3PGE from 404.29m
23MERCD080 7.74m @ 2.94% Ni, 0.28% Cu, 0.04% Co, 1.24g/t 3PGE from 369.26m
Incl 5.75m @ 3.76% Ni, 0.36% Cu, 0.05% Co, 1.52g/t 3PGE from 369.70m

High Grade Widgie 3 Nickel Results (PDF 3,128.0 KB)

 

[basilio]

WIN has just released more detailed figures from its August 11 report. See post 60. Very impressive indeed. Has given the SP a kick along

Exceptional 132N Massive Sulphide Hit Confirmed
Highlights

• Exceptionally high-grade nickel mineralisation at 132N, previously reported by XRF in 23MERCD112 now confirmed by assay
23MERCD112 9.14m @ 10.44% Ni, 0.75% Cu, 0.13% Co, 1.93g/t 3PGE from 330.00m
Incl 2.61m @ 18.88% Ni, 0.48% Cu, 0.23% Co, 0.65g/t 3PGE from 335.44m


Figure 1 23MERCD112 Individual assay results from disseminated to massive sulphide mineralisation.

Managing Director, Steve Norregaard said: “Widgie attracted great interest with the core sample displayed at our Diggers booth this year for good reason. We are delighted to share the assay results for 23MERCD112 validating portable XRF readings announced on the 11 August 2023. This hole drilled through the lower zone of the current 132N resource shape confirms the presence of exceptionally high-grade mineralisation.”

Exceptional 132N Massive Sulphide Hit Confirmed (PDF 784.8 KB)

 

[peter2]

Massive Ni-sulphide results are always good for a temporary price spike that enables a few holders to sell. Will be interesting if there's any follow up buying.

 

[basilio]

Massive Ni-sulphide results are always good for a temporary price spike that enables a few holders to sell. Will be interesting if there's any follow up buying.

Yeah ... The initial drill result came out on August 11. Bit of a sugar hit then. Today's further, more detailed, excellent results did give a rush of blood for about 10 minutes ... But as you say there doesn't seem to be further buying and the SP has gone back to

I have to say I'm surprised. For about 12 months there was real upward pressure on WIN share price. This seemed to be led by a string of very good drilling results which have expanded the volume and value of the reserves at Widgie. And then they discovered a very promising Lithium outcrop on which they intend to bring in new partners for development.

And yet the SP has now retreated to basically where it started.

I wonder if NMT will come back into the picture to help kick it along ? Just an idle thought but I would think this will be a very good little earner. I'm only in it because NMT gave shares to its shareholders when they spun it off originally.

 

[basilio]

So all the great results. Still back to square 1.

Still picking it for the october xrap shoot. Can't be xrsed looking for another wannabe story. Can't imagine what spectacular report will shoot this into the stratosphere. I suspect selling my meager shareholding will be a minimum requirement.

Perhaps a report on the Lithium mine possibility ? Maybe Donald Trump wants to buy in ? Bit of money laundering ?

Go Ozark...

 

[basilio]

Two significant press releases relating to the Lithium Mining Proposal. The Lithium Grades have been substantially upgraded.

The SP has been kicked along with this news. How long that holds for ?

Higher grade Lithium to come on cusp shovel ready at Faraday (PDF 813.3 KB)

Drilling Delivers High-grade Lithium at Trainline (PDF 1,098.8 KB)

 

[basilio]

Australian Nickel Conference presentation. Pulls together the Lithium, Nickel and other resources so far proven.
In theory.... the Lithium mining proposal could be kicked off by the end of the year. (which year you ask ??)

I do think the stock has proven much more resources than may have been anticipated when first floated

The Australian Nickel Conference 2023 Presentation (PDF 2,790.4 KB)

 

[basilio]

WIN continues to highlight the quality of its Lithium resources. They are certainly keen to monetise the asset.

The review of Lithium Grades should encourage further interest. I believe this was just a formalisation of the earlier announcment on Oct 2

Material Uplift in Faraday Lithium Grades (PDF 1,879.4 KB)

 

[basilio]

So why will WIN JUMP in November ? I have decided to say my prayers again. Does that count ?

I'm hoping it won't go any lower because frankly I think it is excellent value . Maybe we see some more action with the Lithium mining.

The Quarterly Report came out yesterday. Very positive. We'll see.

Widgie Nickel Quarterly Activities Report & Appendix 5B (PDF 3,028.1 KB)

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[basilio]

Another seemingly excellent drilling report from WIN.

Absolutely no response on the SP. Strange I think ?


High Grade Nickel Mineralisation Defined Below 132N Open Pit
Highlights

• Infill drilling confirms high grade mineralisation below Widgie’s 132N open pit

• Exceptionally high-grade assays of up to 25.95% Nickel

• Ultra-high grade pods defined within mineralised channel flows

• Mineralisation remains open at depth and the structure’s lower channel flank remains unconstrained
• Geological modelling is underway with updated Mineral Resource Estimate to be completed in early 2024

• Favourable mineralogy with high nickel to sulphur ratios to compliment Widgie’s wider resource base
Drilling Highlights Include:

• 23MERCD112 9.14m @ 10.44% Ni from 330.00m
Incl. 2.61m @ 18.88% Ni from 335.44m

• 23MERCD111 11.33m @ 2.77% Ni from 314.53m
Incl. 4.51m @ 5.30% Ni from 315.33m

• 23MERCD104 9.98m @ 2.61% Ni from 336.02m
Incl. 3.00m @ 5.72% Ni from 341.00m

• 23MERCD113 6.53m @ 1.79% Ni from 327.16m

• 23MERCD114 18.40m @ 0.81% Ni from 331.60m

• 23MERCD096 14.17m @ 0.88% Ni from 345.83m
Widgie Nickel’s Managing Director and CEO, Mr Steve Norregaard, commented:
“These further results from drilling at 132N complete the resource drill out programs for 6 of the 12 known deposits within the Mt Edwards Nickel Project.

“132N has demonstrated excellent potential with some extraordinarily high grades providing encouragement, and importantly identifying opportunities for future resource growth.

“We look forward to seeing the results of the upcoming Scoping Study and in turn future resource upgrades demonstrating that a continuous and sustainable standalone mining operation is possible

High Grade Nickel Mineralisation Defined Below 132N Open Pit (PDF 1,698.9 KB)