Lincoln Minerals Limited - April 2015 Report

Having recently lodged the Mining Lease application, Lincoln is looking towards developing their 100% owned Kookaburra Gully Graphite Project. Recent work has included drilling over the nearby historic Koppio Graphite Mine, and drilling is planned on the Kookaburra Gully Extended prospect, immediately to the south of Kookaburra Gully, supported by a SA Government PACE grant. The results of this work, and the subsequent resource estimations, are expected to significantly increase the current high grade resource of 2.2Mt @ 15.1% TGC, already sufficient to support a seven year mine life. The Company is now working closely with Chinese partners, including very supportive major shareholders to secure offtake and funding agreements for the estimated $40.4 million project and as part of this is planning pilot plant scale testwork to verify the positive metallurgy and produce concentrate samples to supply to potential customers. We rate Lincoln as a SPECULATIVE BUY, with short to medium price movers being positive results from drilling and resource estimations, positive results from the pilot plant work and granting of a Mining Lease. Longer term rises could be expected from successfully negotiating offtake and funding. Download the report for more information…

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