LCD purchased the high grade Andy Well and Gnaweeda Gold Project (776,000 ounce) from Silver Lake Resources for $10 per resource ounce ($8m) in February 2021.
The company also owns the Murchison Gold Project which contains the Turnberry deposit, which was upgraded today to 3.1Mt @ 2.6.g/t Au for 1,115,000 ounces, an increase of 125%. Turnberry has a current strike length of 1.5km and remains open to the north, south and at depth. It averages 1,850 ounces per vertical metre from surface to a depth of 200m where the density of drilling reduces significantly.
With the gold price soaring, LCD looks overlooked and undervalued given its assets and potential. Market cap is currently ~$47 million.
Nice gap up today following this morning’s announcement.
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