The big missing piece is that a huge increase in LTR’s Kathleen Valley prospect is due in the next month or so, indicated by management at between 19 and 31 Mt @ 1.2-1.5%. This will bring the resource to between 40 and 50 Mt (grade TBH). This is only one of LTR’s leases. They also have a very highly prospective lease in Buldania, which some estimate could also be as high as 50 Mt. Also, this is excluding the 170ppm of Tantalum that has been found in Kathleen Valley.
I own both CXO and LTR. My personal view is the CXO is undervalued, but LTR has enormous upside potential given estimates of future resources. So I expect both to materially increase in value, but LTR to be by far the victor. IMHO DYOR.
CXO Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
