Company
ASX:LRS
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards net zero emissions. The company is focused on its flagship Colina Lithium Project in the pro-mining district of Minas Gerais Brazil, where the company has defined a maiden mineral resource of 45.2 million tonnes at 1.32% lithium oxide, reported above a cut-off of 0.5% lithium oxide.
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Rare earths & specialist minerals
The company has formally engaged an independent consulting group to undertake a maiden mineral resource estimate for the project in Western Australia.
Rare earths & specialist minerals
Following this early termination of the convertible funding agreement with Lind the company remains in a very positive financial position with five quarters of funding available and no debt - Latin is now in a prime position to expedite wor
Rare earths & specialist minerals
“The whole team at Latin Resources is very excited by our initial observation at Noombenberry, and the potential that this emerging project is showing at such an early stage,” says exploration manager.
Rare earths & specialist minerals
The company is fully funded to advance the Noombenberry project at a time of strong and broad global demand for high-quality kaolin products.
The strongly supported placement will enable the company to commence an aggressive drilling campaign across its Australian projects.
Burdett Gold Project covers part of the historic Lady Burdett goldfield and is in proximity to the world-class Cadia copper-gold mine and McPhillamys gold project.
Rare earths & specialist minerals
Non-executive director Brent Jones has exercised 999,201 LRSOC options to acquire 999,201 fully paid LRS ordinary shares for a consideration of almost $12,000.
Rare earths & specialist minerals
“We are all very excited to have secured an appropriate drilling contractor and to be getting our maiden aircore drilling campaign underway,” says executive director.
The company has secured a major new project in a region that hosts world-class gold and copper-gold operations, including Cadia and McPhillamys.
Pablo Tarantini has been appointed as a non-executive director following Latin’s transformative joint venture arrangement with new largest shareholder Integra Capital.
Rare earths & specialist minerals
In a cornerstone investment, Integra Capital will spend up to US$1 million in a joint venture with Latin to explore, develop and earn a 50% interest in Latin’s Catamarca lithium pegmatite projects.
Rare earths & specialist minerals
The Noombenberry Project has potential for high-grade halloysite and kaolin similar to Andromeda’s Great White and Poochera halloysite-kaolin projects in South Australia.
The deal underpins the strategic approach by Latin in identifying, acquiring and advancing large-scale land positions of highly prospective mineral projects to attract joint venture partners.
Remote sensing targeting study completed over the Yarara Gold Project in the prolific NSW Lachlan Fold Belt has highlighted 30 new targets.
The placement to sophisticated and professional investors has been confirmed and oversubscribed by $102,000.
The halt will remain in place until the start of normal trading on Tuesday, September 8 or when an announcement is released to the market.
Latin’s recently acquired Yarara Gold Project is expected to benefit from Tony Greenaway’s background across project initiation, planning and progress.
This comes as the company makes a strategic move into the strong gold sector after securing partners for its South American projects.
Non-executive chairman David Vilensky, managing director Chris Gale and non-executive director Brent Jones took up their part entitlement in the SPP.
The SPP was set up to raise $627,000 but applications received totalled more than $1.15 million, representing 83% oversubscription.
