Shares of Widgie Nickel (ASX:WIN) saw a significant rise of as much as 10.5% to A$0.210, anticipating to mark their best trading day since January 5, if the gains persist.

The surge followed the satisfaction of all requisites needed for the commencement of mining operations at Widgie Nickel’s Faraday Lithium project in Western Australia.

The company anticipates that an updated mineral resource estimate for the project will result in a significantly higher lithium grade.

Notably, the company shares reached their highest levels since September 19 last year.

However, the WIN stock marked a 42.4% decrease year-to-date, as of the last close.

Widgie Nickel is a lithium exploration company focusing its operations in Western Australia.