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WSR - Westar Resources

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Westar Resources Limited was incorporated on 30 August 2019 to acquire the shares of Rouge Resources Pty Ltd. Rouge was incorporated on 18 April 2018 for the purpose of pursuing opportunities in the resources sector designed to add shareholder value by acquiring, exploring, evaluating and exploiting mineral resource projects.

The Company subsequently acquired the Mount Magnet, Pilbara, Sandstone, and Southern Cross Projects in Western Australia.

The Company has also entered into a Farm-in and Joint Venture Agreement with Ramelius Resources Limited, pursuant to which Ramelius may earn up to a 75% interest in the Southern Cross Projects. The Joint Venture under that agreement will commence only once and if Ramelius completes its earn-in obligations.

The Company holds the following Projects:

(a) the Mount Magnet Projects - the Winjangoo Project (E58/536) and Coolaloo Project (E59/2329);
(b) the Pilbara Project - Opaline Well Project (E45/4997);
(c) the Sandstone Projects - the Gidgee North Project (E53/1920) and Gidgee South Project (E57/1055); and
(d) the Southern Cross Projects - the Mt Finnerty Project (E16/505) and the Parker Dome Project (E77/2424).

The Southern Cross Projects are the subject of the Ramelius JV Agreement.

None of the Projects contains a Mineral Resource or Ore Reserve.

It is anticipated that WSR will list on the ASX during December 2020.

 

Dona Ferentes

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and another hopeful, up and running

WSR opened at 25c and still holding the premium to 20c IPO price; now 23.5c

Listing date17 December 2020 10:30AM AEDT ##
Company contact detailshttps://westar.net.au/
Ph: + 61 7 3002 8700
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeWSR
Capital to be Raised$5,000,000
Expected offer close date13 November 2020
UnderwriterNot underwritten. Discovery Capital Partners (Lead Manager)
 
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