Winsome’s (ASX:WR1) share price rises 53%; here’s why

November 02, 2022 02:41 PM AEDT | By Sonal Goyal

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Winsome’s (ASX:WR1) share price rises 53%; here’s why — Image source: © Mezzotintdreamstime | Megapixl.com

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Highlights:

Winsome’s shares rose over 50% on Wednesday.

Winsome has four hard-rock Lithium assets in Quebec.

Shares of Winsome Resources Limited (ASX:WR1) on Wednesday (2 November 2022) surged 53% higher on ASX. At 12:48 PM AEDT, the shares were spotted trading 53.85% higher at AU$0.80 apiece.

Including today’s gain, Winsome share price has surged by 114.67% in the last five trading sessions and 130% in the past one month. On a year-to-date basis, the share price has registered a rise of 101.25%, and the past year gain stands at 209.62%.

Winsome has four hard-rock Lithium assets in Quebec and enjoys ready access to the hydropower infrastructure of Quebec. In addition to this, the company has strategic support from Lithium Royalties Corporation (LRC). The Winsome portfolio includes permits for Cancet, Adina lithium, Sirmac-Clappier, Decelles and Mazarac projects.

At the beginning of 2022, the company got listed on FSE (Frankfurt Stock Exchange) and acquired Decelles. The company shared its intent to commence exploration at Decelles.

Between April and June 2022, the company acquired Mazerac and developed key partnerships. TechnoMines was appointed as the exploration partner, and Innovexplo as the geology partner.

At the beginning of 2023, the company expects to continue Cancet and Adina drilling. By April to June 2923, the company expects PEA and maiden resource development at Cancet and Adina, and by July to September, resource expansion is expected.

Through ASX announcement, the company also said that it has an exclusive option to purchase 669 claims at Decelles, totalling 385km2 and 259 claims at Mazerac, totalling 140km2.

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