LTR's share price increased from 2.7 cents on 1st May 2019 to 8 cents on 9th May 2019 due to its exceptional drilling result in Kathleen Valley. An impressive run of 296%. LTR's drilling result on 9th May is as follows. For A40, although already producing, only has less than 5% of Bald Hill drilled out. Drilling has recommenced in March 2019. Let's take a look at Bald Hill drilling result last year of our eastern extension which has not been included in the current resource. The thickness and grading is comparable to LTR's Kathleen Valley result and in fact, our eastern extension is not as deep.
I personally believe that once Bald Hill drilling result starts to kick in (should be very soon), our share price may undergo a significant re-rate like LTR, especially at a time where funds are seemingly flowing back into the lithium sector. A resource of 80-100MT by the end of the 6 months drilling is not impossible.
A40 Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
