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LSR - Lodestar Minerals

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There is certainly pent up momentum behind LSR which is being capped.

Lets just get the placement out of the way and see what happens then, gees the drilling can come quick enough imo.
 
Good day Ijh, good to see you being the regular poster on this website, its great to share the enthusiasm for LSR. And of course i do also refer to HC as its got some very good posters, particularly John423 who clearly has got a strength with those telling maps of the general area about Doolgunna and relationship to structure, and more particularly with regard to SRI on neighbouring ground.

In discussion I have had with LSR management they concur that some of their ground considered to be first priority for drilling has an interesting structural setting along with it having coincident VTEM and geochem anomalies. That makes this first round of drilling to be very exciting, but actually there are so many other targets for future drilling bearing in mind LSR's tenement holdings in the district are huge (2,000 sq kms in the thrust belt). This suggests LSR has a long way to go before a full evaluation of the ground can be achieved, but the sooner they can start that process the better.

With the capper out there at the moment prepared to sacrifice some cheaper stock in order to make sure the price doesn't get out of hand, I can't see LSR share price doing much for the next few days leading up to the AGM when the placement will be voted on, so my expectations are not high prior to that. But for me this is the time to get some more strategic stock in preparation for that first drilling and beyond!
 
Well I'm way off the mark, I didn't see the level of bidding building so quickly and strongly! LSR is looking very strong on the BID, bearing in mind its usual trading liquidity is very low!

I can see LSR moving up appreciably as soon as this AGM is over and the funds are in the bank.
 
Well with almost 1 million traded Im very suprised that the sp has stayed where it is !!!

Not sure where the sellers are coming from but I dont think they will be happy about it LOL !!!

Looking forward to next weeks trading in hopefully will be a positive market its going to be a good ride imo.
 
Haha - Ijh I agree entirely, that the capper must be getting peeved with having to defend his situation with shares at the moment. I think that the slow accumulation will continue, seems that the buyer(s) are slowly sucking out the excess shares, and when it can't be held any longer this thing will move upwards - its only a matter of time, perhaps just till the AGM is on us.

By they way Ijh, do you live in Perth, and will you be attending the AGM, it would be good to hear some commentary about the technical information related to the first priority drilling due to commence shortly afterwards. I have spoken to the management recently and they confirm there will be a technical presentation at the meeting and will provide some details of the areas being first targeted in drilling.
 
I'm starting to think that whoever is trying to cap LSR must be running out of ammunition now, and hoping for the finishing line to come soon! The buying pressure has been quite relentless, and whilst I can't see it being a threat to the placement shares being voted in, its likely that LSR will take off soon, maybe even before the vote on Friday!

And thinking out loud, since most will have to post in their votes by tomorrow, Wed 10.30am unless they attend the meeting in person, its even possible that the capping will fall away from tomorrow. IF thats the case, then its going to be an interesting day watching when capping stops!
 
Well todays trading I think that the buyers won the day and the capper lost the battle and maybe the war.

Looking forward to tomorrows trading will be very interesting to watch.

Sorry Beatle Im in South Australia :banghead:
 
Hi Ijh, I agree with you that it was probably the war and not the battle that the capper has lost. If we assume that there has been a significant capping, he has lost a lot of stock defending a helpless cause, with more than 5 million shares traded in the past couple of days alone! I am sure that no one in their right mind would want to lose all their shares to try to hold back the inevitable.

I believe that the dilution caused by the placements in this case is minimal and may result in gaining some longer term support from Patersons - I understand the particular broker concerned is not the Perth based group but a smaller boutique part of that illustrious broking firm who have placed the stock with some high wealth individuals (who are now more wealthy!), and that its likely that a longer term relationship with that boutique group and its clients has now been firmly entrenched, with it unlikely that much more stock will come out from that group. And as i have mentioned before while its slightly embarrassing for LSR to have handed out such cheap shares, its done, and its going to provide the means to add considerable value to all shareholders that last with the company.

I also would like to make comment about John423's past excellent posts once again, both on the LSR and SRI threads of HC. He has been able to independently show us the exciting structural links between the various tenements, and a possible genetic relationship between past found mineralisation with various fracture sets, including the Jenkins Fault. And LSR has a number of faults running semi-parallel to that Jenkins Fault. Management has separately confirmed to me of such structural links that could provide a locus for mineralisation that are also within the coincident geochem/VTEM anomalies. Its an exciting time, so even if you decide to take some money off the table during the drilling phase, don't be too cautious as you might lose out on SFR2 if it develops!
Thats my view anyway.
 
Whilst LSR is likely to open a bit softer and an indication that the buying may have subsided all of a sudden, I suggest don't be fooled by what might be behind this passive start to trading today.

As I have mentioned previously I believe that the capping is about to be let out, there have been many shares dropped to defend the position the past few days and since the market expects and wants LSR move up, it will do so, even if it has to wait a couple more days to do it! But since proxies must be delivered to LSR before 10.30am this morning Perth time there is not much of a chance to influence the vote now UNLESS people attend personally to deliver a negative vote on the placement.

My view is why upset the apple cart now, there is no point to upset the planned drilling program that is due to commence shortly after the funds are received for the placement, and also the second tranche placement is not a big share issue at all, its minor in the overall context of how LSR will behave with its planned activities in the coming months.

And in terms of exploration spec value, LSR has to have one of the more exciting portfolios with its extensive acreage in the Doolgunna district, not just as its over the border from SFR's Degrussa but with other of the tenements in the area that have a number of VTEM targets and coincident geochem anomalies, with structural links that are most exciting drill targets. The only issue is that all the targets can't be drilled in the immediate future, only the first priority targets are to be tested in the first round of drilling.
 
Beatle some great commentry by yourself and of course John423 on HC !

With smart well educated people like yourselves onboard it just fills me full of confidence in the future of LSR.

I still feel LSR has yet to really advertise itself to the wider investment comunity but that should change upon drilling results.

An update of their website would be much appreciated and only a matter of time its almost time to make LSR a vogue company !!!
 
Thanks Ijh, and I'm very happy to see you making your LSR posts as the "resident LSR observer" for ASF (and translater to HC, lol!).

I was a bit surprised to see LSR be so slow in trade today, but not complaining at all as its still a couple of days for the placement to be approved and the funding done and dusted. But then again it was strong in that it did not touch 15.5 cents during the day and shares were slowly gobbled up from those offering them at 16.0 cents! I can see some heady days for us all as LSR moves towards the start up of drilling, and I expect we now have a good starting base with the share price around 16.0 cents to begin with!

Presumably we will get a presentation on LSR's proposed start up program released to the market on the day of the AGM since it will be providing some technical information to the shareholders that attend the AGM this Friday.
 
Well this pesky little thing called work got in my way today hopefully a sucessful LSR can put pay to that !!

Quarterly just released looks like the drillbit will soon be doing the talking and that is a a great outcome that we will soon be drilling.

Next week could be a great week if drilling starts and the placement is done and dusted.
 
HI Ijh, I guess its not long to go now, I hope that someone watching the LSR threads will be attending the AGM today and able to post on ASF the main points coming out of the meeting. I'm sure we are going to see a rise in share price and shares traded as of later this afternoon just before market closes, once the placement is done!

From my first reading of the Quarterly Report the first drilling program will be restricted to just the one prospect of MacDonalds Well due to the approval process, but that the targets are Priority One targets, with coincident VTEM/geochem anomalies and a structural element to siting of holes.

I can almost see the price starting to quiver as I write this, lol!

Go LSR Go (UP!), this is your time!
 
I presume the AGM has now finished, has anyone attended and can inform us of any news (and when the drilling is to hit the first nugget, lol!)?

I gather from the share price action its just business as usual, with investors slowly grinding away at the current price to get a holding in readiness for the action.
 
Well the results of the meeting are up. All resolutions have passed.

Time to sit back and wait I guess.
 
Speak of timing, just as I finished that last post I note that LSR reported on the AGM, that all resolutions were passed on a show of hands. That means the capper can now take his hand off the brake please!

Anyone attending with some comments would be appreciated of course...
 
In the absence of anyone able to post on ASF re the AGM I have perused the commentaries on HC, and it seems that 4 HC members attended the AGM and their comments appear positive for the start up drilling, but not sure exactly the start up time for that drilling, no one wanted to commit to that on HC!!!

There was comment that Patersons are arranging a roadshow before the action starts, so if thats the case then you can assume LSR will become more market-friendly in the next week or so, and it could do wonders for the share price bearing in mind it has been, and should remain, such a tightly held stock! Having Paterson's support the company going forward is a real positive as it means we don't endure loads of dumping at a critical time as the drilling is about to start.
 
Re the AGM:

I copy below an excellent commentary on the technical presentation given at the AGM, many thanks to ProfitTaker in HC:

"Hey Guys

Likewise I couldn't hang around as I was late for another meeting, so shame we didn't get to meet/chat.

Have been to a lot of AGMs over the years where there's only one or two people, so good to see some interest. Had a few questions lined up but these were answered during the pres or asked by others, so just sat back and enjoyed the show!

My impression is that the Board is being fairly conservative in terms of pumping the hype laeding into the drill program. Some will say this is a good thing, but I think you need to be somewhere in the middle so a bit more PR would be good. I suspect Pattos will have a role to play in this regard and building market interest. There was a six month delay getting through native title, so I suspect this is why they have been pretty quiet - no point talking up the story when you are months away from drilling.

McDonalds Well area sounds promising with drill targets ready to go based on VTEM targets coincident with geochem anomalies. Interesting to note that previous regional exploration was focused largely on gold, with little work done looking for copper (wonder how many passed over the SFR discovery). Some past work by WMC has aided in target identification, including rock chips up to 4,100ppm copper. MD noted that mineralisation in the region is structurally controlled. The VTEM/geochem targets sit along/adjacent to a number of structures in the tenement area. They are high quality targets. MD is also open minded to style of deposits - not just VMS but also IOCG, which will please the likes of John435.

Got the impression that the MD was pretty excited about the targets. Planning to drill a couple of RC holes into each between 100m and 250m depth, which may expand based on visual assessment of the samples produced. Just waiting for a final sign-off on heritage clearances before drilling starts. I don't see any issue with not having lined up a drilling contractor. Its common practice to "piggyback" on others drilling in a region - will save a lot of the mobe/demobe cost of going it alone. Its only a short program so should be able to slot in with some of the other Sandfire wannabes.

Some interesting points re the placement. Pattos wanted to get in cheaper (no surprise) so in the end 9.5c was a good price at the time some months out from drilling. Pattos are planning an east cost roadshow targeting specific broking houses just prior to drilling starting (likely in a few weeks). All part of the plan to build the share price and market hype. Says to me that Pattos may not just pump the share price and sell into it - not good for future business if they are telling other brokers to buy when they are dumping.

I think the recent trading will put a floor on the share price, which consolidated during the week around 16c. From here it will likley build into the roadshow/drilling commencing. Pattos obviously realised the potential and low cost entry into LSR, the cheapest of the SFR wannabes (still very low market cap compared to peers). Hence they went for a straight placement rather than a rights issue or SPP. Wanted all those shares for their clients!

Interesting few weeks ahead. Almost a perfect geological and corporate set-up to build from."

LSR share price is likely to build up on the east coast roadshow and leading into that first drilling program.
 
Looks like you have been talking to yourself the last few days Beatle Ive just been busy at work !!!

Havent had chance to see whats happening with LSR today trading wise but the market is looking positive.

LSR may just take a breather for a couple of days but Im sure will be alot higher by years end afterall we are in Resource Boom II :D
 
Great to see your post Ijh, and yes I tend to get the best replies when I am talking to myself, lol! But I must admit its a bit lonely here at the moment, and yet I look at the number of viewees of these posts and it has steadily increased in recent weeks, so it doesn't mean that people aren't interested! (When I started posting it was less then 813 views, now its something like 1,772 views, so someone is reading the posts even though they don't seem to post themselves - by the way ASF logging of viewer numbers is a bit tardy as it seems to be updated periodically, not as each view is made, which is different to HC).
I was a bit disappointed to see the share price come off yesterday, but I guess it relates to the fact we might still be a few weeks away from the drilling. But if Patersons are due to do a roadshow soon with LSR then I can't see it dropping much more, and since the share register is pretty tight I can see it really moving up once brokers become aware of the situation developing!
 

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