Ann: Latin to sell Copper assets, page-23

There does not appear to be any indication how much LRS intend to sell the Illo East and Illo South assets for to the Canadians.

Is it cash or shares in the buyer that LRS shareholders receive for giving up these copper leases.

It also does not indicate if the company is in fact First Quantum who already have a JV in place with LRS.

One good thing is the current market cap is $7 million and reading the most recent presentations they appear to be focussing on the Lithium assets as the main game now.

The First Quantum JV appears to still be in order , the iron sands business is for sale and the Lithium assets continue to be sought and drilled.

Even if LRS were to get $4m for the JV with FQ , sold the iron sands for $3m , whatever comes from this sale and the rest of the assets are free carry at 0.5 cents per share or a $7m market cap.

First time for a while I think it is a good deal by CG