Ah good old LKE. I remember when they hit an intra day high of...

Ah good old LKE. I remember when they hit an intra day high of $2.65 in April 2022
Unbelievably @ $2.65, their market cap hit $3.4B (they had 1.3B soi at the time)
and even more amazing now is that with 1.7B soi their market cap is $86m for a project they hold 85% in. LKE will never amount to anything but it just goes to show when a stock runs on the ASX and gains a cult following just like LKE did, anything can happen. Blow any valuations out the window.

Hypothetically if it runs like madness before the drill bit hits the ground and then tanks like SLM or even LKE, watch those I told you so muppets reappear



But in the meantime, let's see what Sandro and the crew on the ground can keep delivering.
Who knows what's going to happen here. They've just acquired 6 projects in Brazil, maybe 1 or 2 of them will become SUM's flagship after extensive fieldwork and assays come back but at $25m market cap the market, we will know if it's a passing fad or not in around 6 months time. Super early days here, looking fwd to high resolution UAV (drone) magnetics in planning survey aimed at defining signatures associated with known mineralization which, in conjunction with the mapping and geochemical results can be used to focus in on initial targets for drill testing.
Sandro and team have commenced on-site exploration activities and they'll initiate the necessary drill permitting processes immediately.

One thing I am very surprised about is that T1-T2 and Aratapira was not mentioned in the latest Investor Presentation. There were 2 announcements released on 24/4 and 26/4 so will be interesting to keep an eye on this - no social media on the REE potential which is strange however with 6 projects, all systems go it seems on Equador and Juazerinho