Widgie Nickel (ASX:WIN) commenced trading today after the de-merger from Neometals (NMT). Two announcements summarised below - commencement of trade and drilling results. Currently trading at .265 approximately 30% over the entitlemnt offer price.
1. Widgie Nickel (ASX: WIN) (“Widgie” or the “Company”) is pleased to announce that it has been admitted to the Australian Securities Exchange (“ASX”) today, 22 September 2021, and that the Company’s ordinary shares have commenced trading following a well-supported entitlement offer.
The Company raised $24 million, before costs, via a fully underwritten entitlement offer at an issue price of $0.20 per share. The indicative market capitalisation of the Company at the offer price is $50 million.
Widgie is a mineral exploration company with the purpose of maximising value for the Mt Edwards Nickel Project.
The Mt Edwards Nickel Project is a unique consolidation of a vast ~240 square kilometre package of highly prospective nickel and new economy metal prospects, with a large nickel sulphide resource base of 10.2Mt at 1.6% Ni for 162.6kt of contained nickel, in a globally significant nickel district (refer Table 1).
The Mt Edwards Nickel Project also possesses exploration upside potential to underpin long-term shareholder value creation, with material exploration campaigns planned for the post listing period.
The drilling results at the Munda deposit released today (refer separate ASX announcement) best illustrates the potential of the Mt Edwards Nickel Project.
Widgie Managing Director Steve Norregaard said he was delighted with the strong support for the Company’s entitlement offer.
“The successful entitlement offer has ideally positioned Widgie to methodically work towards unlocking the significant latent potential the Mt Edwards Nickel Project possesses, which was evidenced by the promising drilling results at Munda we released to the market today,” Mr Norregaard said.
“Widgie intends to commence an ongoing drilling campaign within the next month to continue to unlock this value”
2. Thick massive nickel sulphide drilling intersections confirm high grade nature of mineralisation at Munda
Highlights
• Drilling targeting gold mineralisation intersects thick massive nickel sulphides
o 24m @ 3.22% Nickel, 0.20% Copper, 0.53 g/t Palladium and 0.26 g/t Platinum from 52m;
including
o 16m @ 4.58% Nickel, 0.29% Copper, 0.76 g/t Palladium and 0.38 g/t Platinum from 59m
Result illustrates the potential to identify additional high-grade pods within the existing Munda Mineral Resource
Widgie to commence nickel focussed drilling campaign, including drilling at Munda, in the coming month
Widgie Nickel Limited (ASX:WIN) (“Widgie” or “the Company”) is pleased to report the assay results from drilling carried out at Widgie’s Munda deposit by Auric Mining Ltd (ASX:AWJ) (“Auric”), which has returned thick massive nickel sulphide intersections at Munda.
Widgie Managing Director Steve Norregaard said that the drilling intersections were a significant first result for Widgie, particularly considering the purpose of the drilling was primarily targeting gold and undertaken by Auric.
“We are very happy with this great result, as it further reinforces the high-grade nature of Munda, the presence of potentially important by-product credits such as copper and platinum group elements, and clearly illustrates that the process of infill drilling at the Munda deposit has the potential to identify additional localised high grade pods.”