Halloysite Head to Head Hit Out
On Monday, Latin Resources (ASX:LRS) delivered its Maiden Inferred Mineral Resource for its 100% owned Halloysite-Kaolin Project.
LRS declared a Global Inferred Mineral Resource of 207 million tonnes of kaolinised granite as a starting point, hinting that it could get bigger and higher grade with more work.
The $87M capped LRS is trying to follow the same pathway as Andromeda Metals (ASX: ADN), currently capped at $442M.
ADN was one of the best performing stocks on the ASX last year and is a great example of how a micro cap explorer can unlock serious value in a halloysite project - its share price hitting 10x at its peak.
The market has been waiting for LRS to release its news for some time - as it has given investors the opportunity to get a better idea of how LRS might stack up against its bigger and more advanced halloysite peer, ADN.
We expect it might take a few trading sessions for the fast money and day traders to finish their post announcement activity on LRS before it can start its move up.
While we wait for this, we have been going over LRS’ announcement, comparing it to ADN, and have attempted to measure it up against its bigger peer ADN.
How does LRS compare to Andromeda? Find out in our deep dive here:
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