LRS-Latin Resources explorer -MONSTER IN THE MAKING!!
Latin Resources Limited is a mineral exploration company focused on creating shareholder wealth
through the identification and definition of mineral resources in Latin America, with a specific focus on
Peru.
http://www.latinresources.com.au/
http://www.latinresources.com.au/pre...esentation.pdf
IPO-20c to raise 6mill---IPO OVERSUBSCRIBED
CFE largest shareholder with 17%
Current SP-16c bids 18c offers
might look at taking a small interest over the short term like the exposure to Latin America
Get on while you can sub 10c
Old thread but I thought I'd bring it back as LRS is going gang busters today ... I for one have been chasing the market and taking my LRSOC holding close to $100k AUD in value 3mill opts!! ...Upside is HUGE here
today's ann..
https://www.proactiveinvestors.com.a...ct-938764.html
The Noombenberry Cross section below explains it all:
4km's of strike fully open in all directions with solid intercepts ranging from 20m in thickness - 48m in thickness all under shallow cover of dirt...
I reckon this footprint will be larger in size than ADN as the tenement is larger in size and drilling intercepted bright white Kaolin across the 18km2 area!
LRS also has major -Lithium Copper JV's with Major players ..plus a cracking good Aussie Gold Project
207Mt JORC resource monster in the making ??
Latin Resources Exploration Manager, Tony Greenaway commented: “We are thrilled to
have identified this globally significant kaolin-halloysite resource within only 18 months since
acquiring the Noombenberry Project. It really puts us on the map in this emerging sector and
provides a remarkable opportunity to potentially push Latin from explorer to producer within
a brief period. We look forward to commencing the next round of drilling in July, which will
have a dual focus of both uplifting the current resources to Indicated or Measured status, and
resource growth.”
Latin Resources Executive Director, Chris Gale said: “My fellow directors and I are extremely
pleased that Latin has achieved this outstanding milestone for the Company. Our exploration
team have excelled in defining a world-class deposit despite the challenges of a difficult COVID
environment. This massive result adds enormous value to LRS and will elevate the company to
a new level. We will now look to fast track the deposit through to development as quickly as
possible to take advantage of the buoyant mineral prices. I would also like to extend my
sincere thanks to the landowners in Merredin for being so accommodating during the
exploration and drilling process".
END of last month LRS 9.4c close
LRS Trading Halt ....sound like major 30mill Capital raising @ 16c ...
The term sheet sent to potential investors said Latin Resources had already secured a cornerstone investor. Canadian fund manager Waratah Capital Advisors would take up $15 million of the placement, via its subsidiary Electrification and Decarbonization AIE LP.
Latin Resources has lithium prospects in Brazil, kaolin-halloysite in Western Australia and a copper project in Peru.
The offer was priced at 16˘ a share, a 13.5 per cent discount to the last traded price and 16.8 per cent discount to the five-day volume weighted average price. It included one-for-two free attaching option with a 22˘ strike price and five-year expiry.
Euroz Hartleys and PAC Partners were the joint lead managers. Jett Capital Advisors was the co-manager and lead arranger in North America.
Bids were due 3pm Tuesday.
The company had a $305 million market capitalisation before the raise. Its shares have nearly double this month after it posted drilling results for its Salinas lithium project in Brazil.