LEX 7.14% 10.5¢ lefroy exploration limited

Quantum Torus, thanks for posting that, I hadn't seen the...

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    Quantum Torus, thanks for posting that, I hadn't seen the article but I've now found it on the ABC news website from yesterday.

     

    Surprised that there hasn't been more posts on the LEX threads recently considering the recent huge discovery in the region made news around the world.


    LEX market cap is only around 9 million. It is thinly traded but I would've thought the buyers would be building in the market depth given the recent Beta Hunt bonanza.


    Here's the rest of the section about Lefroy Exploration from yesterdays news article. I've put the link to the full article below it.............


    Lucky strike in outback WA could spark 'mini gold rush' for prospectors and miners


    ABC Goldfields By Jarrod Lucas

    Posted yesterday at 5:25pm


    Excitement in area mounts


    ASX-listed company Lefroy Exploration has found hundreds of gold nuggets over the past five years on its 600-square-kilometre land package, just 10km east of Beta Hunt.


    Managing director and veteran geologist Wade Johnson said the Beta Hunt discovery had re-energised explorers in the area and excited potential investors.


    He has already received calls asking about available land for exploration near Beta Hunt.


    "It's the amount and the size of the find down at Beta Hunt which has got everyone excited and now the question is, how do we find another one?" Mr Johnson said.


    "It's pretty special, the amount of nuggets we've found on our ground."


    Mining giant key to Kambalda's fortunes


    The biggest player in the Kambalda gold scene also happens to be Lefroy Exploration's major shareholder, South African mining giant Gold Fields, which holds an 18 per cent stake in the Perth-based explorer.


    Gold Fields owns the Beta Hunt mining lease and has produced more than 10 million ounces of gold at its St Ives operations at Kambalda, mining deposits around the Lake Lefroy salt lake for decades.


    One of Gold Fields' newest underground mines, named Invincible, runs along the same gold strike as Beta Hunt.


    Lefroy Exploration is relatively new to the area, having started drilling in late 2016.


    "It's a vast area of land, very prospective for gold and our ground has had very little exploration over the years," Mr Johnson said.


    "It's whether we can replicate the success Gold Fields have had at St Ives on the eastern side of Lake Lefroy."



    Link to full article:


    http://www.abc.net.au/news/2018-09-12/lucky-strike-in-outback-wa-could-spark-mini-gold-rush/10233130

 
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