$LORD recently increased their cash position by $2.2M from a brokered private placement. The cash will be used to further fund exploration at the Newfoundland properties and drilling at the Florin Project.
- 7,000m-13,000m diamond drilling aimed to expand the already massive inferred gold resource at Florin
- 2.47M oz of Au, 171M tonnes grading 0.45g/t with a 0.30g/t cutoff
- Huge grade potential for their Grub Line and Quinn Lake properties based on nearby exploration results
With gold trending well above $1,800 USD once again plus the coming results from the exploration program, I'm expecting some upwards movement to the $4.00+ range. Drilling is planned to be completed in mid-September, so results will come very soon.
Only a market cap of $84M here. Extremely tight share structure with only 21.6M outstanding. $LORD has been a top performer over the year as well and has been back in an uptrend since the brief dip back in mid-August. Looking forward to the results and the future of $LORD!