Shares of Australia’s Winsome Resources (ASX:WR1) dropped significantly by as much as 11.7% to A$1.21, marking their lowest point since April 27.

With the current losses, Winsome Resources (ASX:WR1) is potentially facing its worst day since August 28.

The lithium miner is undertaking an A$34 million equity raise to expedite exploration activities across its Canadian Lithium Projects.

The equity raising is set at A$1.22 per share for Australian investors, which is a discount of 10.9% to the last closing price.

Despite this setback, Winsome Resources' (ASX:WR1) stock has risen by 11.4% this year, as of the last closing.

Winsome Resources (ASX:WR1) is a lithium mining company, curiously exploring Canadian Lithium Projects.