Lincoln Minerals
Primary ticker: ASX:LML, OTC: LMLAF
Stage of development: Development
Primary minerals: Graphite, Magnetite, Uranium
Project to promote: Kookaburra Graphite Project
Project location: South Australia, Australia
Website: www.lincolnminerals.com.au
Corporate presentation: Click here
Lincoln Minerals (ASX: LML) is focused on developing the Kookaburra Graphite Project on South Australia’s Eyre Peninsula, a key graphite-producing region. The project has as Measured, Indicated and Inferred Resources of 12.8Mt @ 7.6% TGC across several deposits, with a high-grade core of 2.9Mt @ 13.6% TGC at Kookaburra Gully. A 2017 Feasibility Study demonstrated a 10-year mine life with a pre-tax NPV of A$81M. An updated Pre-Feasibility Study is due in 2H 2024. Lincoln is advancing its 1.2Bt Green Iron magnetite project and exploring several uranium targets across its Eyre Peninsula tenements.
Cash: AUD 1.88M
Debt: NIL
Major shareholders:
BAI FU XIN INHERITANCE GROUP PTY LTD
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
GOOD MAKE INC
REGAL FORTRESS INC
MR YUBO JIN
Management Ownership – 16.71%
Financials
Management Profile
Jonathon Trewartha – CEO
Jonathon is a mining engineer and entrepreneur with broad experience in exploration, operations, technical studies, project management, and regulatory approvals. He has held senior positions in Australia and internationally, working across greenfield exploration, feasibility studies, and operations. Jonathon holds a WA First Class Mine Manager’s Certificate and has served as Chairman and Executive Director of an ASX-listed company, as well as Managing Director of several private companies.
What is your rationale for taking part in 121 Mining Investment?
We are looking for investors who will take a longer term position, We will be having a capital raise near the end of the year.
What recent news would you like to highlight to investors attending?
Lincoln doubles Eyre Peninsula graphite resource in seven months (15 April 2024), Lincoln progresses Green Iron Project partnering strategy (5 August 2024), Lincoln unveils 1.2 billion tonne Eyre Peninsula Green Iron Project and commences partnering process (21 March 2024).
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Graphite – Pre-Feasibility Study Completed/ Resource Drilling / Marketing of Concentrate / Battery Anode Material Processing Scoping Study
Green Iron (Magnetite) – Identify Partner to develop the Project. Progress discussions with the South Australian Government on their Green Iron and Steel Opportunity
Uranium – Open up Expression of Interest for Lincoln’s Uranium Projects
6 Months:
Graphite – Kookaburra Project Secondary Mining Approvals / Resource Update / Feasibility Study
Green Iron (Magnetite) – Partnering Process
12 Months:
Graphite – Dig Ready / Initial Conditional Offtake Contracts
Green Iron (Magnetite) – Partner completes the Feasibility Study
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Lincoln Minerals identifies several key risks and challenges that could impact their operations:
1. Volatility Metal Prices: Lincoln has a mitigation advantage that it has diversified mineral portfolio of graphite, Green Iron (Magnetite) and uranium which reduces. Currently Lincoln’s core project Kookaburra Gully Graphite Project, is at the bottom of the metal cycle. To mitigate the low graphite price, Lincoln strategy is to develop Kookaburra Gully’s high grade core that starts at surface and then expanded production as metal prices increases.
2. Funding: Securing adequate funding for exploration and development projects is crucial. Lincoln Minerals actively seeks partnerships and funding opportunities to support its core project Kookaburra Gully Graphite, has started a partnership process for it’s Green Iron Magnetite Project and looking to find interested parties for it’s Uranium projects.
By addressing these challenges proactively, Lincoln Minerals aims to maintain stability and growth in a competitive industry.
What do you think makes your company such a compelling investment?
• Exposure to exciting commodities: Graphite, Uranium and Magnetite all expected to be in structural undersupply
• Tier 1 project location: Dominant position on SA’s Hutchison Formation – second largest graphite resource with growth and scale potential.
• High-grade core at surface at Kookaburra Project underpins strong project economics.
• Updated graphite studies in 2024 will target a globally relevant project scale at compelling economics.
• Mispriced relative to peer group showing clear valuation mispricing.
What are the top 3 key investor takeaways?
1. Aim for Kookaburra Gully Project to be the first new graphite mine in Australia
2. Kookaburra Gully competitive advantages are it is on a Mining Lease, has a high grade core at surface and close to infrastructure (Power 5km, water 13km)
3. The Green Iron is in a Tier 1 Jurisdiction, with Tier 1 Infrastructure and has the highest ASX listed graded magnetite project over a billion tonnes in South Australia at 1.2Billion tonnes 26.3% Fe.