Weekly Standouts
It looks like a bit of value discovery going on over at LML, which is up ~500% since relisting on the ASX earlier this month.
In 2022, LML received an unsolicited takeover offer from fellow South Australian project developer Quantum Graphite (ASX:QGL).
The initial all share offer (1 QGL share for every 40 LML Shares held) was rejected by the board and substantial shareholders in the company, but QGL recently extended its offer again for the third time.
The potential takeover target now has a market cap of $34m — well above QGL’s ~$6m valuation, even taking into account QGL’s substantial share price rise since October last year.
LML’s main game is the advanced Kookaburra Gully project in South Australia, which has a 3.88Mt resource grading 12.6% TGC for 489,360t of contained graphite.
The company is currently defining targets for drilling in 2023.
“The 2023 drilling program will be finalised over the coming weeks and high priority targets will be considered first for drilling, taking into consideration the logistics, planning and permitting lead times,” LML said 16 December.
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Last
0.4¢ |
Change
-0.001(11.1%) |
Mkt cap ! $8.410M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $1.018K | 229K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 17580318 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 15656434 | 11 |
View Market Depth
| Last trade - 13.34pm 17/06/2025 (20 minute delay) ? |
| LML (ASX) Chart |