LRS (ASX) Projects: GOLD/HALLOYSITE/LITHIUM/COPPER/HEAVY METALS

Originally posted by 1%aday: ↑

As most of the information was already covered in my previous research, I will just point out the new info that came out in the Investor Presentation.

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4w%2B8zhj1v%2Ftr7LFiGug%3D

I'm also posting on this thread so we try and keep this thread for research and quick reference for those new comers who would like to read and understand the PROJECTS.

Noombenberry Halloysite

Notice the red circles, these identify Kaolinised Granite. We will not be drilling those areas but what this shows is that the mineral extends on the tenement. Now with the extra tenements under application, imo, this could well extend north, east, south, south-east and west. Pretty much in all directions.

also drilling 2500m instead of 1500m originally announced

Assays will take longer than expected, Jan/Feb

Manildra Project :

New tenement adjacent to the recently acquired. The tenement covers the north western extension of the historical Lady Burdett gold field
where previous drilling and has shown grades of up to 7.82g/t Au We now cover the Gold Corridors. see my previous Post #:48660919 for research on the first Ann.

Land Access is Achievable.

Yarara Gold Project

Nothing really here to highlight, it's all been covered in previous posts. It appears that the priority targets are spot on to what I guessed initially. I would love to see them start with Rangarita Mine or Just-in-Time but who knows.
Forestry Access Application approved.

Catamarca Lithium JV integra

nothing new here that I haven't covered extensively in previous posts. Huge is an understatement.

Copper Peru

we have covered Cu to a large extent previously. I found Westminster accidentally while researching the FQM Jv. Lots to be excited about however Covid has been a damper. I also want to draw your attention that the JV deal gives the rights for FQM to acquire 100% of the project which is a disappointment. However we will have a 2% smelter royalties that could be reduced to 1% if FQM pays us $40mil USD. So the upside is very good if it goes to production

Westmister

Westminster were suppose to start some work in Nov according to an interview with CG. It appears to be delayed due to covid once again till 1st quarter next year. Westminster sp has been on the rise and Lrs stands to benefit as well. Our holdings are worth CA $1.3m and we hold 27.62% which is a couple percentage points to the 30% LRS claims. Too close so no problem there.

NEWS FLOW

Expand

Thanks 1%.

Personally, I am here for the south american projects. Either one of those could send a rocket up LRS' backside. Both projects have partners on board and work is actively underway.

You made a comment regarding the Peru deal: "I also want to draw your attention that the JV deal gives the rights for FQM to acquire 100% of the project which is a disappointment". I actually view the Peru deal as the better of the two, and the upside for us is enormous. Highlights:

1. LRS free carried through to decision to mine.
2. FQM can elect to take a 50% stake if they define a JORC estimate of over 1 Mt of copper. On today's price, this is $ BILLIONS.
3. FQM can then elect to take up to 80% of the project if the project proceeds to mine. i.e. if we can't afford the costs, we can get somewhat carried while still retaining 20% worth of $ billions.
4. FQM can buy our remaining 20% based on an independent valuation. Nobody knows what that valuation would be, but i am positive that it would be multiples of our current market cap. We also retain a 2% smelter royalty.
5. FQM can pay us $40 million to reduce the royalty to 1%. Amazing.

If the initial drilling and technical studies by FQM are positive, this is guaranteed to moon.

Admittedly, I am less bullish about the white dirt at noombenberry but the publicity is great