Winsome Resources (ASX:WR1) shares close over 11% lower today; here’s why

November 10, 2022 06:20 PM AEDT | By Bhawna Gupta

Winsome Resources (ASX:WR1) shares close over 11% lower today; here’s why — Image source: © Photooz | Megapixl.com

Why were Winsome shares trading lower today?

It is to be noted that no price-sensitive information was provided by Winsome today and the fall in the company’s share price is likely due to the performance of materials sector, as ASX 200 Materials index closed 1.19% lower at 16,354.80 points.

Recent developments by Winsome

On 4 November, Winsome submitted an investor presentation to ASX in which the company shared its achievement throughout the year.

Highlights

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Data source- Company announcement dated 04 November 2022

Quarter-wise achievements

Image source: © 2022 Kalkine Media®
Data source- Company announcement dated 04 November 2022

Portfolio update

In the developing lithium province of Quebec, Canada, there is more than 60,000 Ha of 100% owned exploration tenements that include five project regions and a portfolio of advanced development-stage lithium properties.

The permits for Cancet, Adina, Sirmac-Clappier, and Decelles & Mazarac are currently included in the company's portfolio.

85 holes totaling 7,000 metres of diamond core drilling at an average depth of 70 metres.
High-grade lithium deposit that is shallow.
Greater exploration will look for satellite opportunities as well as additional tonnage through a down dip and along strike extension.
It is situated near supply chains and infrastructure that are well-established.
Outstanding metallurgy for straightforward, inexpensive, and low-impact concentrate production.

Stock performance

Shares of Winsome have climbed over 7% in the last five trading sessions and around 147% in the last month. The materials company's shares increased 110% on a YTD basis.

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