Winsome Resources Secures A$7.8M to Propel Adina Lithium Project Forward

Capital Raise to Accelerate Lithium Development

Winsome Resources (ASX: WR1) has successfully secured firm commitments for approximately A$7.84 million through an institutional placement priced at A$0.36 per share, representing a discount of 15.3% to the last closing price. This capital injection is earmarked to advance the company’s flagship Adina Lithium Project in Québec, one of North America’s largest spodumene lithium deposits, and to extend the exclusive option to acquire the Renard diamond mine and associated infrastructure.

Alongside the placement, Winsome announced a non-underwritten share purchase plan (SPP) targeting an additional A$2.5 million from existing shareholders on the same terms, including free-attaching options. This dual approach reflects strong investor confidence and provides a solid financial runway for the company’s near-term objectives.

Extending the Renard Option and Strategic Flexibility

Winsome has agreed with Stornoway Diamonds to extend the option period to acquire the Renard Project until 31 August 2025, with a C$8.5 million payment due upon court approval. This extension allows Winsome to continue due diligence, explore carbon dioxide removal (CDR) opportunities, and seek strategic partners to support the project’s development and integration into the electric vehicle (EV) supply chain.

The Renard Project offers significant operational advantages, including existing processing facilities, infrastructure, and permits, which could accelerate Winsome’s pathway to lithium production. The company’s Managing Director, Chris Evans, emphasised the strategic importance of this extension, highlighting the potential to reduce acquisition costs and enhance project viability through partnerships.

Advancing Adina and Exploring Carbon Sequestration

The funds raised will primarily support advancing Adina’s project studies, which boasts a JORC Mineral Resource of 78 million tonnes at 1.15% Li2O, with a majority classified as indicated resources. The near-surface deposit offers a long project life exceeding 20 years and competitive operating costs, positioning it as a tier-one lithium asset in a stable mining jurisdiction.

In addition to traditional development activities, Winsome is investigating carbon sequestration opportunities as part of its environmental strategy. This aligns with growing investor and regulatory focus on sustainable mining practices and could provide additional value and differentiation for the project.

Market Position and Next Steps

Winsome’s capital raise and strategic moves come amid increasing demand for lithium driven by the global EV market expansion. The company’s integrated approach, combining Adina’s resource potential with Renard’s infrastructure and a focus on sustainability, positions it well to capture value in the evolving supply chain.

Looking ahead, the company will focus on completing the SPP, progressing project studies, and engaging with potential strategic partners. The outcome of these efforts will be critical in determining the pace and scale of Winsome’s transition from explorer to producer.