Ann: Investor Presentation - February 2020, page-151

“LTR is now running at an EV of $102t per resource inground Li2O tonne (down from $151t pre recent interim resource release), ~35% of the current trading Australian peer on peer average of $291t Li2O. Keep figuring that one … No brainer continues here on …”

That $102 which is 66% current undervaluation compared to peers will become 80-90% again once we complete the drilling in 2 weeks.

The market is slow to grasp this because the resource upgrade was so sudden like a lightning. From 74.9mt to 139mt after 3 months of drilling. Why? Because we’ve drilled the meaty fatty bits. Now we have 5 rigs working around the clock for one month. That is equivalent to 2 months capacity of 2-3 rigs. 7,500m remaining.

SUCCESS RATE/YIELD PER METER DRILLED: If we’ve increased 64mt on 8,000m drilled, that’s 8,000 tonnes per meter. If 4,000m of the remaining 7,500m being drilled, plus 1,000m with assays pending, or a total of 5,000m step out holes, assuming a conservative 6,000 tonnes per meter yield, (5,000m x 6,000 tonnes), can we expect another 30mt on top of the 139mt to tops of 179mt?
Could our 200mt be closer than many of us have imagined?

Below are out of the ordinary, they’re extremely bullish wordings from DR. It feels like they already have a very clue what’s coming up.

“Importantly, this is not the end of the story in terms of the growth of this deposit. Resource extension drilling is continuing around the clock with five rigs operating and will continue until the end of this month. ”

“The merged pegmatite zone is interpreted to extend down-dip to include spodumene-mineralised intersections from recent drilling that have not yet been assayed.”


“In-fill drilling and drilling to define the margins of the mineralised system is continuing at Kathleen Valley with up to five drill rigs operating. This drilling is designed to increase the percentage of Measured and Indicated material, which could potentially be converted to Ore Reserves, and also further expand the resource – which remains open along strike and at depth.”