Thanks 1%.
Personally, I am here for the south american projects. Either one of those could send a rocket up LRS' backside. Both projects have partners on board and work is actively underway.
You made a comment regarding the Peru deal: "I also want to draw your attention that the JV deal gives the rights for FQM to acquire 100% of the project which is a disappointment". I actually view the Peru deal as the better of the two, and the upside for us is enormous. Highlights:
1. LRS free carried through to decision to mine.
2. FQM can elect to take a 50% stake if they define a JORC estimate of over 1 Mt of copper. On today's price, this is $ BILLIONS.
3. FQM can then elect to take up to 80% of the project if the project proceeds to mine. i.e. if we can't afford the costs, we can get somewhat carried while still retaining 20% worth of $ billions.
4. FQM can buy our remaining 20% based on an independent valuation. Nobody knows what that valuation would be, but i am positive that it would be multiples of our current market cap. We also retain a 2% smelter royalty.
5. FQM can pay us $40 million to reduce the royalty to 1%. Amazing.
If the initial drilling and technical studies by FQM are positive, this is guaranteed to moon.
Admittedly, I am less bullish about the white dirt at noombenberry but the publicity is great![]()
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Thanks 1%. Personally, I am here for the south american...
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