The Company’s primary Eyre Peninsula focus in 2015 includes enhancing the Company’s graphite and iron ore resources; obtaining a Mining Lease for Lincoln’s flagship Kookaburra Gully Graphite project, just 35 kilometres north of southern Eyre Peninsula’s main hub, Port Lincoln; ongoing evaluation of iron ore targets at Gum Flat, Eurilla and Nantuma; and copper-lead-zinc-silver, nickel-cobalt and gold exploration at Minbrie, and near Tumby Bay
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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.
Lincoln is an ASX-listed company concentrating efforts on developing the Kookaburra Gully Graphite Project located on the southern Eyre Peninsula in South Australia, with production targeted for 2016.
In addition to Kookaburra Gully, the Company has a number of other prospective tenements, all located on the Eyre Peninsula of South Australia. These tenements include Gum Flat, which has a development ready iron ore project and others that have returned positive exploration results for base and precious metals, uranium, additional graphite and iron ore
Lincoln Minerals (ASX: LML, “Lincoln” or “the Company”) is concentrating efforts on developing its 100% owned Kookaburra Gully Graphite Project on the Eyre Peninsula of South Australia, with initial production planned for 2016, and with a Mining Lease application recently lodged...
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Official website: http://www.lincolnminerals.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/LML