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    LRS   AU000000LRS6

LATIN RESOURCES LIMITED

(LRS)
Delayed Australian Stock Exchange  -  02:11 2022-06-29 am EDT
0.0650 AUD   -1.52%
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Latin Resources Limited Continues to Expand High-Grade Salinas Lithium Project

05/16/2022 | 06:21pm EDT

Latin Resources Limited (‘Latin’ or ‘the Company’) announced that it has secured, through its newly created 100% wholly owned subsidiary Belo Lithium Mineracao Ltda. (‘Belo’), an additional highly prospective tenement to grow the Company's Salinas Lithium Project in Brazil (‘Salinas’ or the ‘Project’), expanding its footprint at the project to the east to cover additional strike extensions of the regional prospective host stratigraphy. Latin has secured an exclusive and binding 24-month option agreement (‘Option’ or ‘Agreement’), over the new concession in the Bananal Valley (831.118/2008) from Mineracao Salinas Ltda. (the ‘Vendor’), whereby Latin may acquire a 100% interest in this tenement to the east of the Company's existing Bananal Valley Project. The Lajinha tenement is highly prospective, with known outcropping spodumene bearing pegmatites, and this addition expands Latin's strategic land package to over 6,230 hectares in the Salinas lithium corridor. The Company is currently undertaking a systematic resource definition drilling campaign approximately 6.3 kilometres to the west of the new Lajinha tenement, where results from the Company's maiden diamond drilling campaign confirmed high-tenor lithium, with the Company recently reporting a number of very high-grade results, including: SADD001: 4.31m @ 2.22% Li2O from 83.82m, Including: 1.13m @ 2.85% Li2O from 87.0m; SADD002: 8.13m @ 2.00% Li2O from 111.3m, Including: 1.0m @ 3.22% Li2O from 112.3m and: 3.0m @ 2.20% Li2O from 115.3m; SADD003: 17.05m @ 0.95% Li2O from 65.65m, Including: 4.00m @ 1.96% Li2O from 69.65m and: 5.15m @ 1.31% Li2O from 98.35m and Including: 1.90m @ 2.13% Li2O from 98.35m; SADD004: 17.38m @ 1.46% Li2O from 119.80m, Including: 10.20m @ 2.05% Li2O from 120.95m, Including: 3.05m @ 2.26% Li2O from 120.95m and 2.00m @ 3.07% Li2O from 127.00m; SADD005: 4.25m @ 1.32% Li2O from 125.40m, Including: 1.05m @ 2.65% Li2O from 127.55m and 4.01m @ 1.36% Li2O from 159.10m, Including: 1.00m @ 1.92% Li2O from 161.10m; SADD006: 21.1m @ 1.20% Li2O from 208.80m, Including: 14.00m @ 1.69% Li2O from 210.90m and Including: 3.00m @ 2.28% Li2O from 214.90m. Drilling is also underway just 2.3 kilometres to the west of the new Lajinha tenement, where the Company is undertaking first pass drill testing of outcropping spodumene bearing pegmatites which has returned high-grade lithium results from outcrop sampling, including 2.30% Li2O 2.


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Financials
Sales 2021 0,09 M 0,06 M 0,06 M
Net income 2021 -4,36 M -2,99 M -2,99 M
Net cash 2021 0,64 M 0,44 M 0,44 M
P/E ratio 2021 -9,27x
Yield 2021 -
Capitalization 125 M 86,2 M 86,2 M
EV / Sales 2020 202x
EV / Sales 2021 442x
Nbr of Employees -
Free-Float 91,4%
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Managers and Directors
Christopher Gale Managing Director & Executive Director
David Vilensky Independent Non-Executive Chairman
Sharnah Joanne Meier Administrator
Brent Jones Non-Executive Director
Pablo Tarantini Non-Executive Director
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