KDNC**SAN LUIS,ARGENTINE**15 Apr 2018 21:53
Dark Horse Resource, Australia [Peer in San Luis, Argentine].
www.darkhorseresources.com.au Quote: "Extensive lithium rich pegmatite fields across 40,000 Ha with significant exploration results..exploration has commenced with geo mapping, geophysics & drilling to TARGET JORC Reporting.
www.darkhorseresources.com.au/lithium/ DHR has entered into a Memorandum of Understanding for an Option to acquire 100%... The pegmatite fields of SAN LUIS & Cordoba...."the fields contain MORE THAN 95% of the granite pegmatites of the country. Las Tapias Mine-The mine contains ZONES of up to 80% spodumene...average grade 5.5% Li2o..investigate dumps and tailings as well as explore...
DARKHOUSE RESOURCES [DHR] Mar 2018 PDAC Presentation:
https://www.darkhorseresources.com.au/presentations/
Pg 10-DHR owns 33% of Lakes Oil [ASX:LKO] classed as "Investment" equates to $18m @0.2c
Pg 16-San Luis [Shows grades of some drills].
Last closing price for DHR was A1.8c, Mkt Cap A$28.8m
DHR*s investment in LKO 33% has gone from 0.2c to 0.3c [Mkt cap A$82.87m] = $27m.
So DHR*s Mkt Cap is close to its Lake Oil [LKO:ASX] Investment of $28.8m vs $27m [LKO]
CADENCE, SAN LUIS LITHIUM PROJECT, ARGENTINE www.cadenceminerals.com/san-luis
Quote:Currently 4% with earn in upto 100%
"Exploration claims over 55,773 ha-6 exploration permits "within the known pegmatite fields."
"Initial site visits and reviews by Cadence have confirmed multiple pegmatite outcrops across the 6 claims."
"Historic mines proximate have produced lithium oxide at grades of 4.5% to 6.5%."
"On grant of exploration PERMITS, acq 49% by spending $1.1m on expl and drilling and by issuing �0.4m of new ord shares to the Vendors." Option to acquire up to 100% by issuing a further �1.75m of new ordinary shares in Cadence.
CADENCE MINERALS Mar 2018 Presentation
From recall, end of 2018, Maiden Resource Statement for San Luis.
CADENCE INVESTMENTS
BCN 7% & EMH 20%= �8.6m & �6m respectively= �14.6m [exclud other subs] VS �18m MKT ,CAP KDNC @0.23p.
At the time of a Shore Cap note, it mentioned that EMH had a mkt cap of �100m = theory �20m investment @20%+ value. So EMH at �6m and �20m makes a vast difference.
Comment:
So one can see that the style of underpinned by investments by exploration co*s is not uncommon. I have not checked what other projects DHR is involved in but I know there are other projects. As said, in the San Luis, Argentine area, Latin Lithium, ASX is also involved. I have posted details earlier. So in the San Luis area, KDNC, Latin Lithium [Australian] and DHR [Australia] are exploring. We have not had further news yet so hence why looking at what the other 2 PEERS are doing. Whilst not necessary exact matches ie resource size, nevertheless, it gives one a better feel of the area. So on-topic for KDNC. Pl check.