- Winsome Resources’ (WR1) Managing Director is appointed to the board of Canadian-listed exploration and development company, Power Metals
- Chris Evans has been welcomed to the Board of Directors, replacing a resigning Sinomine director, and will work to fast-track development of the Case Lake project in Ontario
- The news follows Winsome’s recent shares and offtake acquisition from Chinese company Sinomine Rare Metals Resources
- At the same time, Power Metals and Winsome have been working to set out terms under which both companies can cooperate and combine assets to develop Case Lake and other projects into the future
- Winsome is down 2 per cent to trade at $1.47 at 10:45 am AEDT
Winsome Resources’ (WR1) Managing Director has been appointed to the board of Canadian-listed exploration and development company, Power Metals.
Chris Evans has been welcomed to the Board of Directors, replacing a resigning Sinomine director.
The news follows Winsome’s recent acquisition from Chinese company Sinomine Rare Metals Resources of 5.72 per cent of Power Metals’ shares, an equal number of warrants priced at 40 Canadian cents (43 Australian cents) and the rights to offtake from its Case Lake caesium, lithium and tantalum project in Ontario.
Power Metals said it aims to work with Mr Evans and the broader Winsome team to fast-track development of the Case Lake project.
“With Winsome recently becoming a substantial shareholder in Power Metals and acquiring the rights to offtake from the Case Lake project, this position is a natural fit and provides a great opportunity to assist and influence future directions,” Winsome Managing Director Chris Evans said.
“Both companies bring significant experience and opportunity to the table, and it is our intention to leverage the combined experience and assets as we move forward with development of Case Lake and other projects held by each company.”
At the same time, Power Metals and Winsome have been working to set out terms under which both companies can cooperate and combine assets to develop Case Lake and other projects into the future.
These terms are expected to be finalised by early next year.
Winsome was down 2 per cent to trade at $1.47 at 10:45 am AEDT.