I agree @dawgfather
Over the last few weeks I have noticed a few people saying we should be at least this or that, based upon comparisons with peers trading in the 20c range. Not very useful comparisons for realistic expectations in the real world.
There are a few trading in that 19 to 20c range, such as SUV, ADN and even WAK I suppose.
There are a fair few Kaolin-Halloysite plays on the ASX but not useful as a comparison if you do not take into account:
- Speed of development
- Research and partnering being undertaken in industry development
- Stage of resource classification i.,e. inferred, indicated, measured
- JORC, PFS or DFS
- Mining permits
- MOU's or Binding Offtake Agreements
- Grade, volume
- Logistics, etc
LRS has a JORC 'Inferred resource' and is only at the beginning.
Mind you, a sensational beginning that represents potential opportunity. I am really trying not to ramp
As you would know an inferred mineral resource, whilst quantified to the JORC standards is still an estimate.
Clearly in the announcement it says...
"The Company intends to expedite the next round of drilling to elevate some of the Resources to the Indicated or Measured classification for the purposes of a PFS"
"We look forward to commencing the next round of drilling in July, which will have a dual focus of both uplifting the current resources to Indicated or Measured status, and resource growth.”
"It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded
to Indicated Mineral Resources with continued exploration."
They do call it a Maiden Inferred JORC for good reason.
I think there was an element of expectation based upon poor and uninformed comparisons of other companies and their current status, that lead to some disillusioned punters.
There have also been some obvious attacks such as:
'Look at for the Credit Raise' (Over $4.5m Cash on hand with oppies conversion)
'Look out for Management' Well it is a 'competent person' (By definition) who signs off on the JORC!
'No news coming for months'... Says who?
If holders take a balanced reality check, we are sorting out the sheep from the goats and there is plenty of news possibilities that can drop, you just need tyo do some research![]()
LRS General Discussion, page-1226
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Last
18.0¢ |
Change
-0.005(2.70%) |
Mkt cap ! $503.8M |
Open | High | Low | Value | Volume |
18.5¢ | 19.0¢ | 17.5¢ | $2.412M | 13.00M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 1625366 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 239275 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
34 | 1625366 | 0.175 |
49 | 3661938 | 0.170 |
11 | 1115545 | 0.165 |
14 | 1128231 | 0.160 |
7 | 519813 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 239275 | 6 |
0.185 | 285389 | 4 |
0.190 | 716472 | 9 |
0.195 | 850710 | 8 |
0.200 | 1056100 | 14 |
Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
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