Renard, developed and formerly operated by Stornoway Diamonds from 2016 until December last year, contains a permitted processing plant. Winsome says it may be possible to repurpose the plant to treat lithium ore.
“Winsome has the potential to acquire and repurpose the Renard assets at a fraction of their replacement value,” Winsome managing director Chris Evans said in a release.
The company can choose to exercise its option to acquire Renard any time after it’s approved by the Quebec Court and before Sept. 30 for C$52 million in cash or scrip. Extensions to the timeline are possible. Winsome would be bound to a specific payment schedule if it does exercise the option.
Evans says Winsome will use the option period to evaluate the feasibility of converting Renard for lithium, considering technical, economic, environmental, and social aspects. The company will also work out the best deal structure and…
