Trading yesterday in my view was a combination of day trading...

Trading yesterday in my view was a combination of day trading activities and long term, long suffering shareholders exiting. Not that long ago this was useless scrip sitting in the bottom draw for YEARS waiting to be sold to delisted.com.au to claim your tax write off. Some day traders have clearly hopped on board, as well as investors with an eye for critical minerals.
Over the last few days I have been doing research on the size of the resource.
If you look at the JORC Tonnage its not exactly large, an issue for long term investors.
But the exploration upside is absolutely huge.
Some estimates range to over 90M tonnes.
Much of this is in the Kookaburra Gully South area
The thing is, it has already been drilled, just not enough to give a maiden resource.
We know it is there, with probably around 20 drill holes already completed.
This really is a world class deposit, not just in grade but tonnage too.
Mining costs are extremely cheap with low political risk in comparison to its piers.
Stage one of the proposed open pit mine is extremely cheap, as there is minimal overburden and at the very beginning no overburden at all.
Day traders rush in and out of a share and ultimately once they are finished have little effect on the long term share price. The number of longer term shareholders arriving or leaving tends to determine the long term share price better. Yesterdays trading was long termers sitting on a Disallowed selling, with inadequate new long termers buying and day traders leaving. There is a considerable stock overhang from the capital raise that needs to be consumed.

The updated feasibility study to be released shortly will no doubt create considerable interest and drive up the share price.

I hold LMLND