I agree with most of what Kyle has posted. If LRS is to sell the...

I agree with most of what Kyle has posted.

If LRS is to sell the sand mine, we need money, not shares and not bound to a contract with instalments over 24 to 48months. We need cash now. LRS managed to get a JORC sorted on the sand mine so CG has proven he has the ability to reach milestones.

Kyles correct in saying they planned and even announced late 2016 early 2017 they’d start drilling Maria! I think CG thought Catamarca was going to be the winner and now his sentiments have change in favour to Luis as the results weren’t as good as expected.

They announced the drilling permits were approved in November 2017 for Maria and were waiting on 7 other permits to be approved so they could drill multiple targets cutting costs.

What’s alarming about that is they did state they’d start drilling in jan-feb 2017 in Maria and in fact the permits weren’t approved then even just Maria.

Some of the concessions would be coming up for expected milestones and LRS hasn’t achieved them so LRS may not get all the concessions they claim to hold.

As for where the money has gone?

I personally haven’t seen the approval for Maria, so does it exist?

Personally I believe CG thought Catamarca was going to be a winner and it appears to have scared him a bit and he’s been scrambling ever since to get as much as he can in Luis and make sure the next time he drills it’s good cause if it’s not it’s bye bye LRS.

Catamarca still might hold some very good grades and thickness as well, LRS just hasn’t done any follow up drilling as they don’t have the money. They could have but they’ve spent the money else where.

I do believe they have done field work and mapping so to say they haven’t done anything and just thrown a coke party and sat in a hot tub laughing at all the investers may be going a bit far.

Truth is nobody actually knows what or where all the money has gone. I believe they had enough money to drill late last year and early this year but I doubt that money is still there.

LRS really had a good chance at drilling and producing it’s own JORc and then LRS may have been in a good position to negotiate an JV.

I keep reading that China and India are looking for any kind of deals in South America which gives LRS some hope but if they view CG the same way would they want to do business with him and the answer would probably be yes and why because he’s good at talking sheet.

I also believe there is some reluctance to investing in Argentina still. The laws may be favourable now but all it takes is an election and the old president gets back in or a new one with the same thoughts and views as the old one and the mining industry once again will shut down for all overseas investors.

I’d have concerns to invest 100’s of millions of dollars into a country and set up mines only to have a government say all the profits made from mining in their country have to stay in the county or better yet they exercise their right to just take it for their own and their isn’t a dame thing anyone could do about it. They could go court, but their isn’t any signed deals stating regardless of presidency the mining laws are protected for such and such time so they may be scaring of some big players.

As always DYOR and nice write up this time Kyle.

Let’s hope there’s some news this week.