L1MO will appear in your Automic account on 13/03 as per the...

L1MO will appear in your Automic account on 13/03 as per the options prospectus, trading will begin on 14/03. Already 13mil on the buy screen with just under a week until listing. To me this reads as a good indicator that there is genuine long term interest in L1M and hopefully a solid source of capital (up to $6mil) for the company that will reward option holders.


The current SP is disappointing given the 20c IPO but it's nice to note there there has not been a single initial Top 20 holder that has sold any part of their holding. Further to this, Toronga Pty Ltd has snatched up 4.7 mil units (9.7% voting power) since L1M listed. This means that 59.26% of SOI are held in the Top 20, if this ticker starts moving it's going to go quick since it is so tightly held.

The Norseman/Dundas region is very exciting with the $2bil MC Liontown Resources across the road from lightning tenements EL63/2001 and EL63/2028 providing an option for an easy takeover bid once the soil is proven. Also ESS to the west of lightning tenements EL63/1932 and EL63/2028 which recently received a $0.50 takeover (via Scheme of Arrangement) after establishing the viability of their Dome North Lithium resource implying an equity value of $136mil (with todays MC of $6mil that's a lot of multiples).

Of course all the upside of L1M is yet to be realised and at this stage is dependant on strong drill results which we should see by the end of May given the current drill program timeline. All things considered, the company is trading at cash back value, options are issuing next week which will help to ease the risk averseness of this investment, the region has already had success with Lithium Gold and Nickel and management are delivering on all their targets. Here's hoping for some bonza announcements in the coming months and some very happy investors GLTAH!