LRS website states total spent on all projects to date is $20 Million not just on mineral sands.
According to previous quarterly they should have had $757,000 for this quarter, so after admin and staff costs that will leave just under $500,000 for exploration, which is probably enough for this quarter, of course there is only 2 months of this to go, so yes they are going to need more cash.
Maybe a left field sale of an asset will defer this who knows or a JV partner for Lithium targets not out of the question.
I am pretty disappointed the way things have turned out as well, with hindsight should have sold at 2 cents, but I still think they have enough land to find something with better grades/thickness, time will tell.
Who would know what is happening with Copper and Sands projects, not great at keeping shareholders informed on these 2 projects.
Timelines are a joke from LRS, I don't know why they keep doing it.
Anyway good on ex holders who made a profit and got out and good luck to current holders like me hoping for better to come.
Cheers
1hammers.
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Price($) | Vol. | No. |
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