LNR is massively hard to read at the moment. People went running for the hills on the Murrydium results but these were actually good results. If you take a look at AR3's latest drilling you can see that they are still roadside drilling also to find new hot spots. They also had similar pmm for their initial drill campaign before honing in on the richer ground. Now we have an idea where the rich spots are we can concentrate on these areas. We also have 3 more leases in this area to test. This would be a short to long-term investment of around 3-5 years of drilling in my opinion to see some good results. At Lyons we are again still in the early days. They are getting a better idea of the ironstone formations and the geology in relation to the REE content. The more they drill the more they will find as they will have a better idea of where to drill. Again 3-5 years in my opinion. More results pending.
My money is on the deep holes. These will give much more information and as we have so many carbonatite formations on our lease, they are the most exciting part of the campaign for me. Some big hits here will send us off. If they were to find Lithium (and its a slim chance), we will take off like Azure. IMO
Remember that they can hit high concentrations at any time.
We should see more results any day now.
GD
LNR Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
