LRS SP forecast target by end 2021

I'm curious to see what holders (and non holders) are forecasting for the LRS SP (and market cap) by end of 2021. Rather than just providing a figure, try to provide a decent level of analysis including:

- Whether a CR will take place before December. If yes, what SP will the raise happen at and how much $ will we need?
- Whether the SP will be impacted by our competitors (for example if ADN takes off on another rocket, or whether it continues to dip)
- Your thoughts on Brazil, Catamarca and Copper in Peru and whether these will have a big bearing on SP this year (or more likely in 2022)?
- Noomb progress - will the PFS drop in 2021, will drill results increase size of the deposit will we have customer off takes signed and who the end customers will likely be?

My thoughts:

SP
At 24 December 2021, I'm predicting an SP of 12.5 cents (~170% increase on Friday's close). Major contributors will be the Brazil rock chip assays (and eventual drill results) and Noomb deposit upgrade.

Possible upside to the SP: I think ADN (ASX competitor) will get a good jump by November, which will support our SP when their SP starts moving again. In addition, if the ESG sentiment amongst investors shines more focus on Halloysite and it's uses, then this will obviously have a significant impact on our SP.

Possible downside to the SP: We are free carried with up to $1m on our Catamarca deposits with Integra capital who took 100m LRS shares in October 2020 (which are escrowed until 31 October this year. Once Integra takes access to these shares, it will be interesting to see what they do with them. If they start selling down to take profit (they paid half a cent per share last year), then this could cause issues for the SP if we haven't already started attracting decent buying volume by then.

Announcements

Brazil rock chip assays: Tuesday 28th September, 2021 (this week - let's goo!!)
Argentina (Catamarca) field work commencement: Friday October 29 2021
Noomb in fill and extension drill results: Tuesday 5 October 2021
Increase to Noomb deposit: Wednesday 27 October 2021
Brazil Lithium drill results: Wednesday 1 December 2021

CR
We are burning cash at ~$1.3m per quarter (per the last quarterly), although this cash burn is heavily dependent on whether or not option holders exercise their rights. In a lean quarter, $1.5m cash burn is likely - in a better quarter with options being exercised, this could decrease to net burn of $500k.

We had $2.7m cash available at the end of June. On this basis I think we will need to conduct a CR around November 2021 with the strategy being to raise majority of funds to progress Noomb towards production and obviously remainder for continued Lithium exploration activities.

$5m to be raised at 8 cents a share (62.5m units issued)