I need to clear up an error in my previous post. LNR's ionic clay project is named Murraydium. The Murraydium project tenements are, of course, undergoing their first authorized drilling and do not yet have any assays on which to base an ore-body.
The project I had referred to was Koppamurra which is actually owned by Australian Rare Earths (AR3). The Koppamurra project that we hope to emulate has just doubled in size to 81.4Mt TREO. According to a St**khead article from this week, "most of the TREO (+90%) is associated with the valuable magnet rare earth's neodymium, praseodymium, terbium and dysprosium that are needed to produce high-strength permanent magnets used in electric vehicle motors and wind turbines". These are the same rare earth elements that appear to dominate the Gascoyne project in WA.
My sincere apologies for this mistake although it does not alter my bullishness on LNR. There is also quite significant geological relevance between the two projects:
Both the Murraydium and Koppamurra projects are hosted in the lower part of the Loxton‐Parilla Sand unit which covers an extensive area of the SW Murray Basin in eastern South Australia.
AR3 has a current MC of $38 million while our LNR has an MC just under half the size at $15 million. I do not hold AR3 but I do hold several rare earth stocks including a couple of ionic clay projects.
LNR's Murraydium ionic clay sites cover an area of 870 square kms in four tenements - Keith, Bordertown, JipJip and Narracoorte; while AR3's Koppamurra ionic clay project is located approx 35kms south of the Narracoorte tenement's southern border.
LNR Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
(20min delay)