I met with Chris Staargaard at PDAC this past Monday. LTH had a booth in the "Core Shack" area for 2 days.
* still all about the Zn. If 10MM tons or so can be defined, we have a mine @ 2,000 t/d and average grade of 5% or so. Question is who will buy the resource? Would only be attractive to mid tier players, and there are not so many of them. Less if the M&A cycle hits full steam...
* moly - if enough if there, gravy.
* indium - Chris said though not at all a focus, this is still exciting. Several international groups have contacted him on indium since the PR.
* drilling continues, he recognizes the mistakes made in the past, and will monitor suppliers more closely. Labs are backed up, but we all know that.
Conclusion - if enough Zn can be defined, then it's game on. A valuation of between $2-3.00 is conservative using a Zn price of $1.25. Utah base, great infrastructure, high grade ore body with the possibility of economic grades of other elements.
I own a large chunk now, and may add if we see more weakness from current prices. This play goes into my 4/5 bagger in 18 months bucket. Do your own DD.
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