So looking at page 8 LCK on a 2C resource basis is 1/25 of the sector average.
Looking at the appendix 2P reserves are valued at $1.60 per GJ and at $1.00 per share LcK would still only be valued at 20 cents in the ground or 8X below the average.
Even If initially they convert a third to 2P reserves then its valued at 60 cents in the ground with the sector average at $1.60 and that’s with LCK at $1 per share!
The company have said the work is done and 2P is on the way and quickly.
This is is worth literally dollars - tell me another play out there that has this sort of upside in the short term within quarter one as they’ve just said.
Ted
LCK Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
