Continue to be Muddled. WIN share price down 5% today on confirmation of Lithium at Mt Edwards. Most of my other Li stocks are up so there's something I'm not seeing here.... nothing unusual in that though.

Managing Director Steve Norregaard said:

“This initial program is a resounding success for what is our maiden drill program targeting lithium and confirming the outstanding critical metals potential of our Mt Edwards project. Lithium is now confirmed as the second major critical mineral within our tenement package which the company will progressively advance in tandem with its highly successful and ongoing nickel exploration effort.”

“Widgie looks forward into the new year with great anticipation. Two high-value, high-demand commodities with abundant exploration upside further evidence the immense value inherent in our tenement package which the company is keen to unlock”

Highlights

Balance of assays received from maiden drill program confirms the consistent presence of significant shallow, high-grade lithium bearing pegmatite at the Faraday prospect

Highlights include;

o 16m @ 0.77% Li2O from surface (MERC253) including; ▪ 7m @ 1.17% Li2O from 1m

o 7m @ 0.73% Li2O from 0m (MERC247) including; ▪ 2m @ 1.16% Li2O from 2m

Complementing previously announced assays

OK I know I'm Muddled, it's a constant burden some of us have to bear but today Mr Market you've made it even worse than it usually is... WIN today announced prelim results on their Li drilling at Mt Edwards...

Initial assays received from 10 out of 18 Reverse Circulation (RC) drillholes confirm the presence of significant shallow, high grade lithium bearing pegmatite at Faraday

Highlights include;

o 10m @ 0.90% Li2O from 22m (MERC243) including;

 [email protected]%Li2Ofrom29m

o 14m @ 0.88% Li2O from 10m (MERC257) including;

 [email protected]%%Li2Ofrom11m;and

 [email protected]%Li2Ofrom20m

o 18m @ 0.72% Li2O from 12m (MERC254) including;

 [email protected]%Li2Ofrom15m;and

 [email protected]%Li2Ofrom20m

o 4m @ 0.91% Li2O from 29m (MERC255) including;

 [email protected]%Li2Ofrom30m;and

 [email protected]%Li2Ofrom37m

Thick band(s) of lithium bearing pegmatite encountered from surface, or near surface, and are shallow dipping to west

Exploration activity to be rapidly advanced at the Faraday prospect with RC drilling set to commence in January to test potential down dip and strike extensions (over 400m of untested outcrop)

Diamond drilling to commence imminently aimed at twinning mineralised RC intercepts to provide drill core for preliminary metallurgical test work

Managing Director Steve Norregaard said:

“This initial program, whilst all results aren’t at hand, demonstrate the outstanding lithium potential of our Mt Edwards project. Faraday is very much on track to develop into the second major critical mineral within our tenement package and these strong maiden results are an early Christmas present to all Widgie shareholders.”

“Widgie looks forward to receiving the balance of results in forthcoming weeks and to rapidly advancing workstreams at Faraday in the new year. With our recent success in lithium, in conjunction with our ongoing nickel exploration success and production aspirations, 2023 is shaping up to be a pivotal year.”

and the SP is down 23% as I write. I guess everyone was pricing in that the results would be better... Muddled as always

Disc: held

Resource extension for WIN at Mt Edwards announced today. Obviously good timing given the Nickel price as others have said today in discussing NIC. Very close to what I think are all time highs.

Highlights

• Widgie adds well-positioned Inco-Boundary deposit to Mt Edwards’ Mineral Resource
• Inco-Boundary contains an Inferred Resource of 464,000t at 1.2% Ni for 5,590t of contained Ni (@ 1% Ni cut-
• off)
• Total Mt Edwards Project Mineral Resources now stands at 10,684kt at 1.6% Ni for 168,150t of contained Ni

Widgie Nickel Managing Director Steve Norregaard said:

“It’s very pleasing to see Widgie continue to bolster the Mineral Resource base of Mt Edwards.

“Critically, Inco-Boundary is located proximal to other resources in the heart of the Mt Edwards project, making it a highly promising addition to our flagship project, as we move towards being production ready.

“The significance of Inco Boundary may well come to the fore in the medium term given the substantial increase in endowment noted when considering a lower cut-off grade with the resource swelling in size to 2.79Mt @ 0.84% Ni at a 0.5% Ni cut-off, in excess of 23,000t of contained nickel. With the higher nickel price outlook and potential for downstream processing increasing payability cut- off grades on all of the Mt Edwards resources may well be able to be reduced.”

Widgie you will remember is a de-merger from NMT last September. Listed at $0.18 or thereabouts if I remember correctly, trading at 0.42 today. I wonder how NMT are feeling about their timing, though they have been on a tear since September themselves, so maybe not giving it a second thought?

Euroz Hartleys initiated coverage of WIN today with a speculative buy and price target of $0.36. Currently trading at around $0.22. For those new to WIN, it's the creation of a recent demerger from NMT and primarily based around the Mt Edwards Nickel resource. Holders of NMT received an in specie distribution of shares and access to a rights offer at $0.20 about 2 months ago. From the research I have done to date, this reads like a quite balanced view.

I hold in my SMSF through the in specie distribution and rights offer and have added further to that holding at below $0.22 to sit alongside another speculative holding in POS.

Analyst report here --> https://www.widgienickel.com.au/site/PDF/ecc9e76c-9767-488a-8be1-293c6c756a96/EurozHartleysResearchWidgieNickelLtdWIN022SpeculativeBuyInitiationofCoverage

Re-posting my forum post from a few days ago here to kick off the widgie straws.

Widgie Nickel (ASX:WIN) commenced trading today (22 Sept) 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 sulphideso 24m @ 3.22% Nickel, 0.20% Copper, 0.53 g/t Palladium and 0.26 g/t Platinum from 52m;

includingo 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.”