Winsome Resources Ltd (WR1-ASX: $1.665)
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Kaiser Watch February 9, 2023: Australians setting the James Bay tone
See Entire KW Episode Blog Direct YouTube Link for Entire Episode
(0:09:52): Why did X-Terra do a 7:1 rollback?
The 7:1 rollback for X-Terra doesn't make a lot of sense. Post rollback there are 16.4 million shares issued and liquidity is gone. They raised $600,000 FT in December. Their Liberty property is on trend with the Jamar pegmatite of Winsome Resources which is helping Winsome raise AUD $60 million in a combination of flow-thru, rights offering and institutional private placement. Now the X-Terra stock is sinking. Cheap financing at a post rollback slumped price for the usual Quebec suspects at the expense of minority shareholders, or farmout deal with Winsome that pauses dilution? Winsome has moved on the basis of the Jamar showing whose apparent trend cuts through the corner of the Gallinee project of Azimut and Soquem which really has no implications for Azimut unless there are parallel repetitions, put the trend projects onto the X-Terra Liberty claim. Winsome's news releases and presentations very carefully avoid indicating what other companies are nearby, and since Jamar has emerged as the higher grade focus, graphics are all very small scale. X-Terra is an incompetent junior which has let somebody create the sort of useless web site popular with "battery metal" life-style juniors - lots of fancy dancing widgets but useless or outdated information and of course a "Frankfurt listing". They haven't updated their presentation since June 2022 and even then did not know that Winsome is the new owner of the Adina project. But I have taken the liberty to clip the map from the outdated presentation and marked it up to show how the trend of the Jamar pegmatite points at the Liberty property. I have also provided a snapshot of the web site as of February 9, 2023 to show how out of date it is. How lazy and irresponsible can a junior's management be?
Showing how Jamar Pegmatite in Winsome's Adina property relates to X-Terra's Liberty claim
Drill Plan for Jamar Pegmatite at Winsome's Adina property
Snapshot of X-Terra's fancy but hopelessly outdated web site
IPV Chart showing relative valuations of Winsome's Adina and X-Terra's Liberty projects

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