LML - Lincoln Minerals

[pussycat2005]

New U listing in SA.

Uranium explorer rushed by backers

ANTHONY KEANE

February 19, 2007 01:15am
Article from: The Advertiser

URANIUM fever remains high, prompting a South Australian exploration company to close its $7 million initial public offer just over a week after opening it.
Lincoln Minerals said yesterday it planned to list on the stock exchange next month after closing its IPO early and oversubscribed on Friday.

The offer opened on February 7 and had been scheduled to close on February 28.

Managing director John Parker said yesterday 50 per cent of the funds would go on uranium exploration. "That's our primary target," he said.

"We have some very good uranium prospects at the centre of Eyre Peninsula."

Lincoln's portfolio also covers lead, zinc, copper, nickel, silver, gold and iron ore projects.

"We have half a dozen hematite iron ore targets near Port Lincoln that we are planning to drill in the first year," Dr Parker said.

The company also had a project "right next door" to Wilcherry Hill, home of a high-grade iron ore resource on Eyre Peninsula that sent shares in Trafford Resources surging this month.

Dr Parker said Lincoln's IPO success reflected the high level of interest in uranium and other resources.

The interest had "been coming to a large extent from Asian investors" and Lincoln had "several major Australian-based Asian investors".

Lincoln is already exploring, with an aeromagnetic survey beginning a week ago. Drilling is expected to start mid-year.

Dr Parker was formerly the South Australian Geological Survey's chief geologist and mapped much of Eyre Peninsula before forming a mineral exploration consultancy.

Lincoln's chairman is former Henry Walker Eltin chief executive Richard Ryan.

 

[shares]

yay! my first post

I bought some Lincoln Mineral shares for 31 cents each a couple of weeks ago. Right now they are trading at 27 cents

Does anyone know if Lincoln are going to rise anytime soon or are they going to be more of a long time investment?

Any ideas will be greatly appreciated.

 

[alankew]

Few positive days recently for this reasonably new IPO.Has struggled to get going since its debut.Looking for U in SA which is a bonus and also other metals including iron ore.Was said to have lots of Asian(Chinese perhaps?)investment/backers-their prospects are in the same area as that of Trafford Resources(heres a snippet from a recent newspaper article

"right next door" to Wilcherry Hill, home of a high-grade iron ore resource on Eyre Peninsula that sent shares in Trafford Resources surging this month"Company has already started exploration on its prospects and drilling is expected to start mid year.Could be one to watch in the same way that ERL was overlooked and the nearology effect(NTU/PXR)

 

[greggy]

Few positive days recently for this reasonably new IPO.Has struggled to get going since its debut.Looking for U in SA which is a bonus and also other metals including iron ore.Was said to have lots of Asian(Chinese perhaps?)investment/backers-their prospects are in the same area as that of Trafford Resources(heres a snippet from a recent newspaper article

"right next door" to Wilcherry Hill, home of a high-grade iron ore resource on Eyre Peninsula that sent shares in Trafford Resources surging this month"Company has already started exploration on its prospects and drilling is expected to start mid year.Could be one to watch in the same way that ERL was overlooked and the nearology effect(NTU/PXR)

Hi Alankew,

I'm a firm believer in the nearlogy effect. With some careful research you can find overlooked stocks (like PXR). As For LML, it announced to the ASX yesterday that it will be making a non-renounceable issue of Options to shareholders on the basis of one Free Option for every two ordinary shares held three months after Listing on ASX. The shares will go ex-entitlement on 4 June 2007. The record date will be 8 June 2007. The Options expire on 30 Jun 2010. It will cost 30c to exercise each option.
DYOR

 

[alankew]

Greggy apologies for getting over excited-didnt even notice the ann so I presumethat people are buying in for the options.Think that news wont be that far awau with this one.From memory i think that they started exploration 1 week after listing which is the way it should be.Reminds me of ERL

 

[greggy]

Greggy apologies for getting over excited-didnt even notice the ann so I presumethat people are buying in for the options.Think that news wont be that far awau with this one.From memory i think that they started exploration 1 week after listing which is the way it should be.Reminds me of ERL

You often don't a free option issue so its refreshing to see one for a change. I haven't bought any LML as yet, but its on my watch list. LML is looking as if its going to be an active explorer which may present several trading opportunities.
DYOR

 

[alankew]

No news from this company yet but options are now trading.None for sale atm but there are 2x100000 bids.Emailed company wednesday and was told that a "shareholder update announcement in the next few days to keep the market informed"Fairly large trades today compared to average but nothing to get excited about.Any one else any news on this.Greggy you still watching or perhaps in the Top 20

 

[greggy]

No news from this company yet but options are now trading.None for sale atm but there are 2x100000 bids.Emailed company wednesday and was told that a "shareholder update announcement in the next few days to keep the market informed"Fairly large trades today compared to average but nothing to get excited about.Any one else any news on this.Greggy you still watching or perhaps in the Top 20

Thanks for the bit about the shareholder update as yet. I was especially interested in buying in on the back of the free option issue, but decided to hold back for the moment. LML has some good uranium prospects in SA and is next door to Wilcherry Hill. A stock with interesting prospects, still on my watchlist.
DYOR

 

[Mousie]

Hey alan that's a nice surprise to see the options already floated. Am a happy camper in this one. Yes I got in mainly coz of the free oppies; OTM atm but given the SA location of its projects and diversified minerals mean it shouldn't be OTM for long.

Who knows it might be another MTN in the making; MTN started out quite diversified. Management then decided to solely focus on uranium after discovering Mt Gee's potential and look where it is now. LML can be the next major player if it gets a good JORC resource and if management aren't too desperate to sell off quality assets to bidders.

 

[alankew]

Amazing-announcement out today as per email.Only problem is the text used is very blurred!Do like the bit at the bottom of the ann that gives a timeline of whats been done and whats going to be done-very impressive and nice to see the management keeping a small shareholder like me informed.June/July/August look to be an interesting time with drilling,soil sampling(I think-take a look at the ann and you will see what i mean).Projects that they are looking at in this time frame include iron and U.Pity about the quality of the text.Correction ann via companies website is clear as a bell.Heres the link http://lincolnminerals.com.au/464840.pdf

 

[Mousie]

Amazing-announcement out today as per email.Only problem is the text used is very blurred!Do like the bit at the bottom of the ann that gives a timeline of whats been done and whats going to be done-very impressive and nice to see the management keeping a small shareholder like me informed.June/July/August look to be an interesting time with drilling,soil sampling(I think-take a look at the ann and you will see what i mean).Projects that they are looking at in this time frame include iron and U.Pity about the quality of the text.Correction ann via companies website is clear as a bell.Heres the link http://lincolnminerals.com.au/464840.pdf

Great to see management honoring their word to update minority shareholders; gives us great confidence to continue investing in them.

Had an initial read through the announcement yesterday arvo when it came out; but shame on me - I failed to really get excited about the drilling programs lined up. Heck I didn't even noticed how closely packed together they were!

Had a closer look now and yes it is exciting to see things being fast-tracked - they need to anyway due to the amount of projects they have. Matter of time before this one gets a re-rating based on nearology and diversification of in-demand minerals alone IMO.

This one's close to TRF's (soon to be IronClad's) Wilcherry deposit and CXM's Wilgerup Hematite Project where it's already a JORC Indicated Resource for 8m tonnes and 1.1 Inferred.

CXM's a one project company.

CXM's undiluted market cap = $49m

LML's undiluted MC = circa $10m

And that's not taking into account Wilcherry and LML's other projects.

 

[greggy]

Amazing-announcement out today as per email.Only problem is the text used is very blurred!Do like the bit at the bottom of the ann that gives a timeline of whats been done and whats going to be done-very impressive and nice to see the management keeping a small shareholder like me informed.June/July/August look to be an interesting time with drilling,soil sampling(I think-take a look at the ann and you will see what i mean).Projects that they are looking at in this time frame include iron and U.Pity about the quality of the text.Correction ann via companies website is clear as a bell.Heres the link http://lincolnminerals.com.au/464840.pdf

Hi Alankew,

Its always good to see LML's management keeping shareholders and potential investors up to date on how its exploration programs are going. Looking at the announcement, this year will continue to be an active year for LML. Cash levels are currently $6.5 million, more than enough to fund its various exploration programs.
DYOR

 

[Mousie]

Some quite serious activity in this now, over a mil shares changing hands in slightly over an hour when daily average is your odd 200k plus. Could get interesting

 

[greggy]

LML's latest announcement dated 20 Jun 07 looks very interesting.
LML has received SA Govt approval to commence a major aircore and reverse circulation (RC) drilling program on southern Eyre Peninsula, South Australia.
The approval is to drill direct shipping hematite and hematite banded iron formation (BIF) targets on the Company’s 100% owned Gum Flat tenement (EL3422) near Port Lincoln.
Detailed processing and interpretation of a low-level high-resolution airborne magnetic survey has identified eight hematite targets including zones of reduced magnetic amplitude, fault zones with clear evidence of magnetite destruction and favourable structural settings including fold hinges and complex fault patterns. The Middleback Range on northeastern Eyre Peninsula is one of Australia’s oldest iron ore mining districts and hematite iron ore has been mined continuously there for over 100 years. Magnetite and hematite BIFs of the Middleback Range extend throughout eastern Eyre Peninsula
down to the Gum Flat tenement.
In addition to the Gum Flat iron ore project, Lincoln Minerals will also drill uranium and base metal targets on its Cockabidnie project on central Eyre Peninsula where there are surface samples containing up to 1% zinc and up to 750ppm (0.075%) uranium not previously tested by drilling.
The inaugural program of 10,000m of aircore and RC drilling is planned to commence in early July subject to completion of Aboriginal heritage and other clearances.
I still haven't bought any LML as yet, but it certainly does have a strong iron ore flavour to it.
DYOR

 

[alankew]

Greggy can see the similarities between this and ERL-both unnispiring debuts at IPO stage with lots of dissappointed stags selling out and pushing the price down howvere the management seem to have good focus and just get on with the job.Particularly like the way that LML have covered both bases by exploring for what is in vogue atm,U and Iron.Also like the way they keep investors informed and have personally answered my queries(small holding so easy to ignore me).FYI their options are LMLO.Al

 

[greggy]

Greggy can see the similarities between this and ERL-both unnispiring debuts at IPO stage with lots of dissappointed stags selling out and pushing the price down howvere the management seem to have good focus and just get on with the job.Particularly like the way that LML have covered both bases by exploring for what is in vogue atm,U and Iron.Also like the way they keep investors informed and have personally answered my queries(small holding so easy to ignore me).FYI their options are LMLO.Al

Hi Alankew,

In this market its a question of patience. Every stock seems to be having its day. A number of recent new listings, FWL and ERL spring to mind in particular, have temporarilyu gone below their issue price and then moved strongly upwards from there. In terms of diversity, LML reminds me of ERL. What I particularly like about LML is the fact that its management reularly keeps the market up to date with any developments.
During the past few weeks there's a major shift towards iron ore stocks. However, I still believe that the market is still going to recognise good exploration results frrom resource stocks. I had a look at the options but they seem to be few and far between.
DYOR

 

[Mousie]

Broken out on volume with a high of 23.5c today. Might be another one of those dead cat bounces, but with no entitlements coming up I kinda doubt it. Should be interesting...

 

[kevin eleven]

good to see a move at last. hopefully the move is a start of more to come. be nice to think has something to do with their current drilling. drilling for iron ore in this current environment has to be a positive, if they find some,,

 

[alankew]

Announcement out regarding a potential issue of further capital in the company and also discussions with 3 parties in relation to one of its explorations licenses.Gave me a fright as I logged onto comsec and saw that the oppies which i bought a week or so ago were now worthless

 

[alankew]

Just as an aside to the opening intro on LML-they are looking for just about everything but recent drilling commenced at its Iron ore prospect and also its U prospect.The U prospect is in the same area as Olympic Dam-apologies but cant remeber what the Iron prospect is near to.Presume that news is related to hopefully one of its bigger neighbours.Anyone else have any info or speculation on who might be involved