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;

 3m@1.49%Li2Ofrom29m

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

 8m@1.05%%Li2Ofrom11m;and

 3m@0.99%Li2Ofrom20m

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

 2m@1.76%Li2Ofrom15m;and

 5m@1.02%Li2Ofrom20m

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

 2m@1.58%Li2Ofrom30m;and

 4m@1.01%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

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