The second part is a standard share placement for a further A$11.8 million at A$0.85 per share, or an 11.9% discount to the last closing price of A$0.965 on Wednesday, June 12 (trading was halted on Thursday).
The stock resumed trading this week, but is down 16.1% at A$0.81 by market close in Australia for a market capitalization of A$153.7 million.
“The flow through financing provisions under Canadian tax law mean we are again able to raise funds at a significant premium to the current share price and therefore at a lower cost of capital,” Winsome’s managing director Chris Evans said in a news release.
Earlier this year, the company laid out an aggressive plan to scale the Adina project, which rose to prominence in 2022 following the discovery of the Jamar outcrop (now the Main zone) that delivered high-grade results including 1.34% lithium oxide (Li2O) over 107.6 metres.
It subsequently published a new resource estimate of…
