LCL 0.00% 0.8¢ lcl resources limited

Ann: Encouraging start to porphyry drilling program at Chuscal, page-22

  1. 1,502 Posts.
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    I will give my 2c. I work in mining and traded this share based on experience.

    I bought after the first drill hole showed alot of promise this could be a at surface low grade porphyry deposit for open pit mining (~6c). Then the second drill hole results came in and spooked me, the mineralisation starts too deep and the low grades doesn't qualify for under ground mining (need 3g+ at minimum), I sold out around ~9c. I was surprised to see it go to 21c, that made me doubt my decision maybe there was something I missed. But as more drill hole results came back the picture it painted was a small deposit area, low grade, mineralisation starting too deep to make an economic open pit mining deposit. What you got is a pillar shape low grade deposit with lots of waste at the top, good luck making money off this mine.
 
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