LEX lefroy exploration limited

Hi BenwexIMO this deal is quite bullish - what caught my eye is...

  1. 2,026 Posts.
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    Hi Benwex

    IMO this deal is quite bullish - what caught my eye is that these funds ($2.5 million) are not for LEX to pay its share of the development of Lucky Strike (BML is paying for this with costs to be recovered from first income from the Lucky Strike development).

    Rather, the funds are for working capital for LEX, including drilling at Mt Martin and the high-grade area at Burns. It looks to me that BML is keen to keep working with LEX to develop these projects, therefore it has advanced LEX monies to do further drilling to advance the projects. This is positive because (i) it means that BML is confident that Lucky Strike will be successful (Luck Strike is the source of clearance for the new $2.5 million debt) and (ii) BML is keen for LEX to progress Mt Martin/Burns, presumably because it wishes to keep working with LEX to develop these projects post Lucky Strike.

    GLTA & DYOR
 
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(20min delay)
Last
13.5¢
Change
0.000(0.00%)
Mkt cap ! $33.53M
Open High Low Value Volume
13.5¢ 13.5¢ 13.5¢ $1.607K 11.90K

Buyers (Bids)

No. Vol. Price($)
2 72446 13.5¢
 

Sellers (Offers)

Price($) Vol. No.
14.5¢ 100952 6
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Last trade - 10.06am 01/08/2025 (20 minute delay) ?
LEX (ASX) Chart
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