LTR, with a 15% increase in SP, has just added
$120M to its market cap today. In another word, its one day gain is more than enough to take over TSO at the current Market cap of
$110M. Those who sold their shares at 20c today must be really happy to accept this kind of offer as they would have another $10M extra to divide between themselves
Now, let's have a look at LTR's announcement today, I have to say that it is a solid annoucement but either it was overpriced or TSO is insanely cheap at this level!
Previously, LTR did
120 AC drills for Moora, with best intercept of 12m @ 1.4g/t or
16.8g/m. However, many of those 120 holes had insignificant assays (NSA), with 140 more AC holes waiting for assays. The annoucement today is about the
first 3 RC holes.2 of which had insignificant assays, only one hole had an intercept of 44m @ 1.6g/t or
70g/m.
Now please tell me, basing on the drill results, do you really think that Moora worth more than this asset?
- 85 diamond holes. ALL hit GOLD! Not a single miss!
- 15 holes out of 85 had grade of over 100g/m.
- High grade core with average grade of >2.5g/t. Mineralization starts from 5m.
- Ternera gold mineralised zone nowconfirmed by drilling over 950m of strike, 450m wide to over 400m depth and remains open in all directions.
- Mineralised surface expression is1,500m of strike, up to 600m wide and remains open in all directions.
