Widgie Nickel (ASX: WIN) – Mt Edwards Nickel Project
COMPANY SCOREBOARD
| Pro Plus | Pro | Con Plus | Con |
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ABOUT COMPANY
Widgie Nickel (WIN) (https://www.widgienickel.com.au) demerged from Neometals (NMT). Its flagship is the Mt Edwards Nickel Project in Kambalda Western Australia.
The company was demerged from NMT in September 2021 by raising $24m@20c.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| WIN | 0.052 | 297945053 | 15493142.756 | 0.8/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 5967 | 40.81% | 35.09% | 0.00% | 1649000 | last raise $12m@26c |
The company doesn’t have a strong board, and they don’t hold any stock at all.
FLAGSHIP ASSETS
Mt Edwards Nickel Lithium Project Kambalda WA
Project Data
The project was acquired by NMT in March 2018 for $2.5m cash with the intention of lithium development. Since then, NMT spent some $2m on exploration, then demerged for 130m shares at 20c.
In October 2022, the company diverted its effort to lithium. In March 2023, it reported high grade lithium resource of 106kt@0.87% Li2O for DSO potential.
Below are the project’s resources:
SUMMARY
To compare, CNR was taken over by a private equity for $280/tonne.