- Widgie Nickel (WIN) has officially commenced trading on the ASX, nearly five years after it was removed under its former name Windward Resources
- The minerals explorer raised $24 million through an entitlement offer at 20 cents per share
- WIN has also revealed some pleasing nickel, copper and rare earth results from drilling at the Mundi deposit, within its Mt Edwards Project
- Widgie Nickel plans to begin additional drilling at the Western Australian project next month to target nickel and associated by-products
- WIN’s shares are trading at 26.5 cents at 2:29 pm AEST
Widgie Nickel (WIN) has officially commenced trading on the ASX nearly five years after it was removed under its former name.
The company was removed from the ASX’s official list on December 7, 2016.
Widgie Nickel has now returned to the ASX under a name that reflects its goal of maximising value at its Mt Edwards Nickel Project in Western Australia.
The company raised $24 million through a fully underwritten entitlement offer at a price of 20 cents per share.
Managing Director Steve Norregaard was pleased with the support the entitlement offer received.
“The successful entitlement offer has ideally positioned Widgie to methodically work towards unlocking the significant latent potential the Mt Edwards Nickel Project possesses, which was evidenced by the promising drilling results at Munda we released to the market today,” he said.
Coupled with the recommencing of trading, Widgie Nickel announced some results from drilling at the Mundi deposit, which is part of Mt Edwards.
Fellow ASX-lister, Auric Mining, conducted the 27-hole program which has returned thick, massive nickel sulphide intersections.
Best results include 24 metres at 3.22 per cent nickel, 0.2 per cent copper, 0.53 grams of palladium per tonne (g/t) and 0.26g/t platinum from 52 metres including 16 metres at 4.58 per cent nickel, 0.29 per cent copper, 0.76g/t palladium and 0.38g/t platinum 59 metres.
Mr Norregaard was pleased with the results.
“We are very happy with this great result, as it further reinforces the high-grade nature of Munda, the presence of potentially important by-product credits such as copper and platinum group elements, and clearly illustrates that the process of infill drilling at the Munda deposit has the potential to identify additional localised high grade pods,” he said.
Widgie Nickel expects to begin a drilling program next month to target nickel and associated by-products.
WIN’s shares were trading at 26.5 cents at 2:29 pm AEST.