How Winsome Is Advancing Adina Lithium Project Despite Market Headwinds

Permitting Progress at Adina

Winsome Resources has taken a significant step forward in advancing its Tier-1 Adina Lithium Project in Quebec, receiving a formal Directive from the Environmental and Social Impact Evaluating Committee (COMEV). This Directive outlines the scope and requirements for the Environmental and Social Impact Assessment (ESIA), a critical regulatory milestone that enables the company to chart a detailed permitting roadmap. The ESIA will assess the cumulative impacts of the Adina site, the connecting TransAtikh Road Project, and the potential reuse of infrastructure at the Renard Operation, reflecting a comprehensive approach to environmental stewardship.

Exploration and Technical Studies

Alongside permitting, Winsome has advanced trade-off and technical studies focusing on mining methods, transport logistics, and geochemistry to refine the upcoming Feasibility Study. Exploration activities have also resumed at the 100% owned Sirmac project, targeting high-grade cesium-lithium mineralisation within outcropping pegmatites. This is particularly noteworthy given the global scarcity of cesium, with assay results expected in the fourth quarter of 2025. The company is carefully balancing exploration expenditure with strategic priorities amid a challenging lithium market.

Financial Position and Capital Management

Despite ongoing market pressures and subdued lithium prices, Winsome has maintained a robust cash position of A$18.3 million as of June 30, 2025, supported by capital management initiatives including the partial divestment of shares in Power Metals Corp. This non-dilutive funding approach reflects prudent financial stewardship, allowing the company to preserve capital while progressing core projects. Operating cash outflows continue, but cost-saving measures such as workforce rationalisation and office closures have been implemented to align spending with market realities.

Renard Option Deferred

Winsome’s option to acquire the Renard Operation remains a strategic consideration, but the company has signalled it is unlikely to exercise this option under the current market conditions. The financial commitment required is significant, and with peers deferring capital investments, Winsome is adopting a cautious stance. However, the company remains engaged with Stornoway Diamonds, government bodies, and First Nations stakeholders to explore collaborative opportunities. Should market conditions improve or if the Renard site remains unsold or unreclaimed, Winsome may revisit this opportunity in the future.

Sustainability and Community Engagement

Environmental and social governance (ESG) remains a core focus, with ongoing baseline studies supporting the ESIA and active engagement with Cree Nation communities. Winsome is also pioneering a carbon capture strategy at Renard, exploring carbon dioxide removal technologies that could position the site as a dual-use hub for lithium production and environmental innovation. This initiative aligns with the company’s ambition to lead sustainable lithium development in Canada, reflecting a forward-looking approach to resource extraction and climate responsibility.