Q: Could I please have an update on PWM? Any changes or further insight?
5i Research Answer:
PWM is up 5% this year already, after big gains in 2024. But there has been no news since early December, when it started some metallurgical test samples at Case Lake. We would not consider this news overly material. Market cap is small at $72M, and it has a relatively small amount of cash ($3M) at its last financials. Case Lake continues to develop as a decent asset but there is not much 'new' to report here.