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Winmar Resources potentially to become 'one of world's top 10 primary cobalt producers'

Winmar Resources Ltd (ASX:WFE) chairman Jason Brewer speaks to Proactive Investors about the company's new cobalt strategy, focused on the Democratic Republic of Congo (the DRC) and Ontario, Canada.

"A new strategy very much, a strategy focused on production; development of an existing plant and some nearby mining tenements in the DRC, and further exploration with the projects we have in Canada as well," explains Brewer.

Winmar announced in January that it had acquired rights to three blocks of mining claims within the historic high-grade Cobalt-Gowganda silver-cobalt mining district of Ontario, Canada. In June, the company commenced exploration activities at the Bloom Lake Cobalt Project there.

In the DRC, Winmar executed Heads of Agreements to acquire a 50% interest in the Luapula Cobalt Processing Facility and a portfolio of several highly prospective exploration licenses to provide run-of-mine feed.

Brewer says, "It's a tremendous opportunity for us. Because of the size of that transaction, and how transformative it's going to be for Winmar, we have to go through some recompliance with the ASX, so that's a process we're currently going through."

Quick facts: Winmar Resources Ltd

Price: 0.024 AUD

ASX:WFE
Market: ASX
Market Cap: $58.15 m
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Winmar confirms dual listing and move from cobalt exploration to production

Winmar Resources Ltd (ASX:WFE) Chairman Jason Brewer tells Proactive London how the company is changing status and confirms its dual listing. Updates here too for investors on the company's cobalt operations in the Democratic Republic of Congo (the DRC) as well as why Winmar returned to the...

on 2/3/19

2 min read