Latin Resources

Latin Resources


Latin Resources Company Overview

Latin Resources (ASX: LRS) is exploring a halloysite-kaolin project in WA, but is also currently working on lithium projects and ongoing exploration activities in South America.

LRS has released its Maiden JORC Resource (MRE).

A global Inferred Mineral Resource of 207 million tonnes of kaolinised granite has been estimated at Noombenberry, comprising two separate domains:

  • 123 million tonnes of bright white kaolin-bearing material; and
  • 84 million tonnes of kaolin/halloysite-bearing material.

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

βœ… Portfolio Initiation
βœ… $5M Cap Raise @3c
βš”οΈ LRS vs ADN Comparison
πŸ”² Unexpected Positive Announcement 1
πŸ”² Unexpected Positive Announcement 2
πŸ”² Unexpected Positive Announcement 3

Salinas Lithium Project (Main Bet #1)

βœ… New Exploration Program Commences
βœ… Fieldwork Complete
πŸ”² Assay Results Received
πŸ”² Drill Testing Begins
πŸ”² Drill Targets Identified
πŸ”² New Milestones Added

Noombenberry: Halloysite (Main Bet #2)

βœ… 3,500m of Aircore Drilling Commenced
βœ… 3,500m of Aircore Drilling Complete
βœ… Assay Results from Aircore Drilling
βœ… JORC Resource Estimate
βœ… Aircore Drilling Commenced
βœ… Infill and Step Out Drilling Commenced
πŸ”² JORC Resource Upgrade
πŸ”² Pre-Feasibility Studies (Noombenberry)

Catalyst Hunter Investment Milestones

βœ… Initial Investment @1.76c (before key catalyst)
βœ… Increase Investment @4.49c (before key catalyst)
βœ… Price increases 250% from initial entry|
πŸ”² Price increases 500% from initial entry
πŸ”² Price increases 1,000% from initial entry
πŸ”² Free Carry
πŸ”² Take Some Profit
πŸ”² Hold position for key drilling event
πŸ”² Decide New Investment Plan after key catalyst

β€œExpected 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. β€œOur 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.


πŸ”² Expected Milestone
βœ… Achieved Milestone
🟩 Above Average Result
🟨 Average (Expected) Result
🟧 Below Average Result
πŸŸ₯ Negative Result
🌎 Macro Event
βš”οΈ Results from Other Company / Project
πŸ”„ In Progress
[UPA] Unexpected Positive Announcement
[NEW] New Milestone Added

Why we are attracted us to LRS:

βœ… Maiden JORC Resource. LRS has been working toward its MRE for the last six months and has now released it, following receipt of its highly positive test-work results from the Noombenberry Halloysite-Kaolin Project.

βœ… Comparison to Andromeda. On initial read, LRS' 207mt maiden JORC resource looks to be better than $475M capped Andromeda’s 210mt resource. LRS has drilled only the first of 5 of its projects - its land holding is 7 times the size of Andromeda.

βœ… Debt free. LRS is operating in a debt free capacity after building a strong cash position last year. It has $4M in the bank as at March 31.

βœ… Lithium project. Maintains a diversified position and continues its significant exploration at its South American lithium projects.

LRS is one of the busiest stocks in our portfolio and consistently solid results have led LRS to become one of our better performers.

We would expect that as LRS continues to expand resource estimate, its share price could be in for a re-rate.

Our Past Commentary on Latin Resources

Type Date New Title
Email 21-Aug-2021 What Happened This Week? Aug-21st-2021
Email 14-Aug-2021 What Happened This Week? Aug-14th-2021
Email 05-Jun-2021 What Happened This Week? June-5th-2021

Latin Resources Market Data

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