2. Is there any other explanation that LRV may have for the recent trading in its securities?
LRV has been actively presenting at conferences to showcase the purchase and plans for its recently acquired 1.4Moz AuEq gold and antimony Hillgrove Project. Significant increases recently in both the gold and antimony price and the rise in relevance of critical minerals has increased the exposure and potential of this development ready project.
The Company has also recently released that visible gold was noted in drilling from the Bakers Creek exploration program and that a concentrate offtake company is undertaking Due Diligence to potentially provide US$8M in funding to progress the Hillgrove Project. The Company has received insufficient assays from the drilling program at Bakers Creek at this point to be able to release meaningful results.
The Company has had a significant shareholder, which invested in the Company’s lithium potential, selling over the past several months and this has constrained the share price. The Company believes that the share overhang has now been removed.
The Company’s share price has recently traded well above the 8.7c reached on 3 April 2024.
3. Please advise whether any samples of the drilling exploration programme that the Company is currently undertaking (or has recently undertaken) have been sent to the laboratory? If yes, please provide the exact date on which the drill cores were sent to the laboratories.
Refer to the table (mainly April – DF)
4. As at 3 April 2024, the interpretation of this information was incomplete and undergoing further review by our technical team. The intention of the Company was to report the results of the drill programmes once all information on assay results had been received and interpreted, so as to provide a complete and full assessment of the drill results to the market. We believe this approach is appropriate, and typical industry practice.
The Company expects to be in a position to release the results of this drilling programme by 16 May 2024.
5. Please advise when the drilling was completed.
Drilling at Bakers Creek, Hillgrove in New South Wales was completed 12 March 2024.
6. Please advise what arrangements (if any) LRV has in place to maintain confidentiality of its assayresults? Please provide detailed information.
All drilling samples are submitted using 6-digit sample numbers. At no point is hole number or location provided outside of the Company. Results are relayed from the laboratory to the Larvotto Database Administrator (DBA) who combines analytical results with geology and survey controls. Larvotto has a single DBA who is the only person with access to the software and the software is password protected. Once combined the results are predominantly viewed onscreen with some paper plotting of information when required for interpretation of geology and anomalism in results. Information is stored in password protected databases and on Microsoft Teams which only allows staff to access information relevant to their requirements
