- In 2019, Lomiko Metals Inc. (“company”, “Lomiko”, “LMR”) completed a 21 hole / 2,985 m drill program at the Refractory zone on its La Loutre graphite property in Quebec.
- The program intercepted a few high-grade intercepts (over 10% Cg) over long intervals. The program also indicated a strike length of 900 m for the Refractory zone.
- LMR is currently preparing a maiden resource estimate on the Refractory zone, which is one of the three known zones on the property. The other two zones have a resource estimate of 18.4 Mt at 3.19% indicated, and 16.7 Mt at 3.75% inferred with a cut-off grade of 1.5% Cg. The resource is 4.1 Mt at 6.5% indicated, and 6.2 Mt at 6.1% inferred with a cut-off grade of 3% Cg.
- The company is currently in the process of selling its technology assets to a related party for $1.24 million plus $0.19 million for reimbursement of certain expenses. Management decided to divest these assets to fully focus on La Loutre.
- On an Enterprise Value to Resource basis, we estimate that the company’s shares are trading at $4.2/tonne (“t”) versus the comparables’ average of $7.5/t. Note that the average was $17.9/t as of our previous report in April 2018, reflecting the significant weakness in market sentiment towards graphite juniors.
Visit Lomiko Metals Inc. page for more research, discussion boards and to like, and share.
Download Analyst Report :
- Please log in or subscribe for free to download and read this report.