I like this announcement of Westminster acquiring a copper project near/in elephant country. In and around a known worldwide copper hotspot and a very long option period of 4 years is a great deal. Copper demand is only going one way if the world demands EV's.
This is a valuable asset for LRS to be holding. They don't necessarily have to see it to the end. There could be some serious value to be gained if copper appreciates further and they do some ground work that increase the promise of the ground.
Within 4 years they COULD be producing Halloysite or Kaolin, have developed any one of the three gold projects, and/or they have or lithium from Argentina and have free cashflows.
A positive announcement and the market clearly sees it this way too. Hopefully all the gamblers have now departed, and the long termers can keep accumulating as news develops from all projects.
Ann: Westminster Resources to acquire Chile Copper Project, page-18
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $517.8M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 19.0¢ | 17.5¢ | $2.039M | 11.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 144143 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 2098329 | 16 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| LRS (ASX) Chart |