It’s pretty clear Chris has worked out that better go inferred than indicated.
His 7.5m shares for last year was based on indicated, a higher threshold to achieve at even 10m due to the infil drilling.
Saying that 40m tonnes is no small feat inferred.
CXO is currently at 30.6m total, thats after a 62% upgrade this month, so LRS need to add another 33% on top of this to get the first tranche of 3m each.
The aim of the game is to drill Colina like a Swiss cheese I reckon. Let’s hope the economics stack up in the PEA / DFS.
I was not keen on last years ones as i did not like the timing considering so many assays were outstanding and initial JORC was imminent.
These are more challenging and if we hit 40m T the SP will be far north of here, never mind 80m T.
Will these guys see it through to production? Or want to cash out in a TO? None are young, maybe easier and safer to build up resource and project dynamics and hope for a TO, and change of control kicks in for these
It’s pretty clear Chris has worked out that better go inferred...
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Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $559.8M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 19.3¢ | $5.462M | 27.56M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 202667 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 6654078 | 37 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| LRS (ASX) Chart |