As per Co. prospectus, the Managing Director Dr. Allan Parker was the Chief Geologist with the Mapping Branch of the South Aust. Geological Survey. Sounds like he knows exactly where to explore and secured the most prospective areas. Very well credentialed board!
Current cash position = $6.4 mill Placement to MEL = $1 mill Options at 20 cents = $1.8 mill Options at 30 cents =$6.8 mill
TOTAL = $ 16 million
On a fully diluted basis at current price of 21 cents * 106,000,000 = $22,260,000
$6 mill odd for LML sounds very cheap for highly prospective EL's Close to infrastructure etc. Is it any wonder MEL is on board at 30 cents? And let’s not forget the other commodities.
Regards RBA
LML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
