Latin Resources (ASX: LRS) has a diversified portfolio of exploration projects including lithium projects in South America and a halloysite-kaolin project in WA.
The company is advancing its highly prospective spodumene tenure at the Salinas Lithium Project in Minas Gerais, Brazil. The mineral spodumene is a source of lithium used to produce lithium hydroxide, a crucial ingredient in Li-ion batteries for electric vehicles. LRS's project is not far from Sigma Lithium's largest hard rock lithium deposits in the Americas.
LRS is also advancing its 100% owned Noombenberry Halloysite-Kaolin Project in WA. The project has a global JORC Inferred Mineral Resource Estimate of 207 million tonnes of kaolinised granite at the project. This is one of Australia’s few known occurrences of ultra-high-grade halloysite, a naturally occurring nanotube.
Halloysite globally is in short supply, and since China recently closed a number of environmentally damaging mines, the market has opened up.
LRS Company Milestones
✅ Portfolio Initiation
✅ $5M Cap Raise @3c
⚔️ LRS vs ADN Comparison
✅ ESG Reporting Standards Adopted
🔲 Unexpected Positive Announcement 1
🔲 Unexpected Positive Announcement 2
🔲 Unexpected Positive Announcement 3
Salinas Lithium Project (Main Bet #1)
✅ New Exploration Program Commences
✅ Fieldwork Complete
🔲 Assay Results Received
🔲 Drill Testing Begins
🔲 Drill Targets Identified
🔲 New Milestones Added
Noombenberry: Halloysite (Main Bet #2)
✅ 3,500m of Aircore Drilling Commenced
✅ 3,500m of Aircore Drilling Complete
✅ Assay Results from Aircore Drilling
✅ JORC Resource Estimate
✅ Aircore Drilling Commenced
✅ Infill and Step Out Drilling Commenced
🔲 JORC Resource Upgrade
🔲 Pre-Feasibility Studies (Noombenberry)
Catalyst Hunter Investment Milestones
✅ Initial Investment @1.76c (before key catalyst)
✅ Increase Investment @4.49c (before key catalyst)
✅ Price increases 250% from initial entry|
🔲 Price increases 500% from initial entry
🔲 Price increases 1,000% from initial entry
🔲 Free Carry
🔲 Take Some Profit
🔲 Hold position for key drilling event
🔲 Decide New Investment Plan after key catalyst
“Expected Company Milestones” are based on the company's publicly available execution plan and some assumptions made by our team on potential announcements that should de-risk the investment. “Our investment milestones” show our current long-term investment plan. Early stage investments are risky and there is no guarantee that the expected events will occur. The lists are not in sequential order.
🔲 Expected Milestone
✅ Achieved Milestone
🟩 Above Average Result
🟨 Average (Expected) Result
🟧 Below Average Result
🟥 Negative Result
🌎 Macro Event
⚔️ Results from Other Company / Project
🔄 In Progress
[UPA] Unexpected Positive Announcement
[NEW] New Milestone Added
Why we are attracted us to LRS:
✅ Lithium project. Maintains a diversified position and is ramping up exploration at its South American lithium projects.
✅ Maiden JORC Resource. LRS released a maiden resource estimate following receipt of its highly positive test-work results from the Noombenberry Halloysite-Kaolin Project.
✅ Comparison to Andromeda. On initial read, LRS' 207Mt maiden JORC resource looks to be better than that of Andromeda which trades at many multiples of LRS and it has plenty more ground to drill.
✅ Debt free. LRS is operating in a debt free capacity after building a strong cash position last year. It had $2.7M in the bank as at 30 June 2021.