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Court approves Winsome’s Renard project option

The Renard project

The Renard project

8th April 2024

By: Creamer Media Reporter

     

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Australia-listed Winsome Resources has paid a C$4-million option fee to secure the acquisition rights for the Renard project, in Quebec.

This comes as the Superior Court of Quebec approved an option agreement, granting Winsome exclusive access to negotiate the acquisition of the Renard diamond mine, its processing facilities and associated infrastructure from Stornoway Diamonds.

Winsome intends using the option period, which extends until September 30, to conduct a comprehensive evaluation of the Renard project. The assessment will encompass various facets, including the technical, economic, environmental and social feasibility of repurposing Renard, as well as identifying the optimal transaction structure and negotiating definitive documents.  

By capitalising on existing assets and infrastructure, Winsome sees the Renard acquisition as an opportunity to expedite its entry into the lithium market. The company’s main focus is its Adina project, which has an estimatd resource base of 59-million tonnes.

Edited by Creamer Media Reporter

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