Lomiko Metals Inc (LMRMF)

[singhinvestor16]

Lomiko Metals Inc. Will Retain 20% of Promethieus Cryptocurrency Mining Corp



Here is the great news. The 20% of the Promethieus Cryptocurrency Mining Corp. is the bonus in my opinion but Lomiko Metals Inc. is still a graphite play. Graphite prices were up 30 to 40 per cent in the second half of 2017 due to an improving steel industry, environmental related production problems in China, and continued strong demand growth from the lithium ion battery industry. Prices for large flake graphite are now up to $1,200/t from US$750 last year. This is still well below the 2012 peak of US$2,800/t. Batteries are now approximately 25 per cent of the market and are growing rapidly. With steel demand also recovering and production issues in China, the supply/demand picture for graphite is very favorable.

I don’t think most investors have really grasped the increasing demand for graphite as a result of the growing need for lithium ion batteries.

The La Loutre Property consists of 1 large contiguous block of 42 mineral claims totaling 2,508.97 hectares (25.09 km2) located approximately 53 km east of Timcal's Lac des Iles graphite mine, 117 km northwest of Montréal in southern Québec.

The La Loutre Property was originally explored for base and precious metals by Soquem in 1989. Based on the results of a helicopter-borne electromagnetic (EM) survey, prospecting and reconnaissance geological mapping, their work identified several zones of parallel conductors each measuring as much as 2 kilometers long. Ground exploration followed in 1990, and according to historical reports by Levesque and Marchand, graphite is present in different lithologies on the property.

Here is a link to Lomiko’s website and the property’s section:

https://www.lomiko.com/properties/loutre.html