Post by
trader53 on Aug 24, 2023 11:36am
Win/Win Deal!
IMO Winsome will not takeover PWM until they see a clear path to production with a detailed MRE. On the Lassonde curve it is clear that the most volatility and market cap expansion comes from the initial discovery exploration phase. We are entering that phase as we speak. Owning 20% of PWM along with another 5% available from warrants gives Winsome the benefit of a great deal on a takeover as they only need to pay for an additional 75% of the shares. So whether they take it over at $1.50 or $2.00 makes no difference to them. What JM and PWM got is an off ramp without worrying about taking Case Lake into production or raising the Capex. To me its a win win. Shareholders will get all the upside to this exploration program which if successful could drive the market cap into far above value territory which is often the case. Every hole will have the potential to put Case Lake on the world stage.