So LRS looks like having a resource as good if not better than...

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prowiz

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29/04/21

16:37

Post #: 52819850
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Originally posted by Robbo3333 ↑

MAJOR CATALYST ALERT: JORC Resource Estimate Lands in a Few Weeks

Writen By: Jonathan Jackson | Email Sent On: 28/04/2021
LATIN RESOURCES
– TYPE SIZE +
We invested in Latin Resources (ASX:LRS) in November 2020 and continue to maintain a significant holding.
We invested as we liked the potential in LRS’ halloysite/kaolin project. We sat on the sidelines as Andromeda Metals rose to a $496M market cap off the back of its impressive halloysite resource.
We took a position in LRS as we are hoping it can replicate similar success to Andromeda on its halloysite project in WA.
Whilst some of the buzz in LRS has come off a bit lately since its February highs of 10c, the share price looks to have consolidated around the 4.5c mark.
However now LRS is edging closer to a major catalyst.
LRS is now just a few weeks away from delivering its maiden JORC Mineral Resource Estimate - on track to be completed in May.
LRS’s Noombenberry project is one of Australia’s few known occurrences of ultra-high-grade halloysite – a naturally occurring nanotube.
$63M capped LRS vs $496M capped Andromeda Metals
Drilling assays so far have indicated that LRS’s project is comparable - if not better - than standout success Andromeda Metals.
The $496M capped Andromeda was one of the best performing stocks on the ASX last year and is a great example of how a micro cap explorer can unlock serious value in a halloysite project.
LRS is still only capped at $63.8M.
Its JORC resource estimate is due in a few weeks time - this is going to allow the market to better compare LRS to its bigger brother Andromeda.
The catalyst

LRS has received the final assay results required for it to move ahead with its maiden resource estimate - due in May just a few weeks from now.
The last batch of results were on trend with previous results showcasing the very impressive high-grade halloysite grades that are becoming synonymous with the Noombenberry Project.
LRS will now hand its current database of results over to independent resource consultants RSC Mining and Mineral Exploration, for an immediate start of the maiden mineral resource estimate.
What’s next

There’s plenty of work to be completed to support the Maiden JORC Resource Estimate, which means several more catalysts on the horizon:

Noombenberry site visit – scheduled for the week beginning 3 May 2021

Finalisation of domain wireframes - underway

Geostatistical data analysis and grade estimation

LRS now preparing to commence extensional drilling in the adjacent granted tenement (to the north) where further high-grade kaolin & halloysite mineralisation remains open

LRS has $4.5M in the bank as of December, with over $1.3 million received from the early exercise of options in CY 2021 to date. This means its work programs remain fully funded.
We are watching LRS with interest over the coming weeks, ahead of its major JORC resource catalyst.
TAGS

KAOLINITE HALLOYSITENOOMBENBERRY HALLOYSITE PROJECTNOOMBENBERRY HALLOYSITE KAOLIN PROJECTASSAY RESULTS

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So LRS looks like having a resource as good if not better than the $496m ADN.

Even At 10c LRS would be worth only 25% of ADN....
LRS Price at posting: 5.8¢ Sentiment: Buy Disclosure: Held
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Last 19.8¢		Change 0.008(3.95%)		Mkt cap ! $559.8M

Open	High	Low	Value	Volume
19.0¢	20.0¢	18.5¢	$10.86M	55.87M

Buyers (Bids)

No.	Vol.	Price($)
28	2397187	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	8112900	83

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No.	Vol.	Price($)
35	3111448	0.195
28	4248871	0.190
30	4967254	0.185
34	5383355	0.180
33	4579896	0.175

Price($)	Vol.	No.
0.200	7425491	88
0.205	3602463	33
0.210	1448424	27
0.215	2277496	12
0.220	3077101	23

Last trade - 14.03pm 21/08/2024 (20 minute delay)

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