The drilling program is in its early stages but drill results so far are very encouraging, keeping in mind that Fe results above upper 30's are considered good. The drilling project is still in progress.
The greatest potiantial advantage of LML deposit is that it is less than 20k from port Lincoln and if enough reserves are proven, it could be a very profitable project because of low freight cost to the port.
Considering the jv with Mineral Enterprises Ltd (India Company) see sufficient potential in the project to pay for the exploration up to 2 1/2 million dollars and have already put up 1 million dollars cash.
Good luck to all !
cheers
LML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
