# Lomiko Metals Inc. Delivers Positive Preliminary Feasibility Study For La Loutre Graphite Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b Original source: https://money.tmx.com/en/quote/LMR/news/4519214331067013/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre- Publisher: tmx Original announcement: 2026-03-24T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lomiko Metals Inc. - Ticker: LMR - Exchange: TSX - Region: Quebec - Primary commodity: Graphite - Secondary commodities: None reported - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-09-12 11:03:12 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lomiko Metals Inc. announced positive results from a Preliminary Feasibility Study \(PFS\) for its La Loutre Graphite Project in Quebec. The PFS outlines a 28-year mine life with robust economics, including an after-tax NPV of CAD$617.4 million and an IRR of 24.7% at a graphite price of US$1,524/t. The study includes updated mineral resource and reserve estimates, with probable reserves of 46.8 Mt at 4.79% Cg, and projects a high mill recovery rate of 93.0% producing a 97.0% Cg concentrate. Reasoning: The Preliminary Feasibility Study for the La Loutre Graphite Project demonstrates strong economic viability with a significant after-tax NPV and IRR, supported by updated NI 43-101 compliant mineral resources and maiden probable reserves, and high metallurgical recovery rates. - Positive factor: Strong economic metrics \(NPV, IRR\) - Positive factor: Significant probable reserves declared - Positive factor: High Measured and Indicated resource confidence - Positive factor: High metallurgical recovery - Positive factor: NI 43-101 compliant study - Negative factor: Metallurgical test work based on a master composite, suggesting limited domain coverage Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 12 ## Classification and evidence **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: The document is a Preliminary Feasibility Study \(PFS\) which provides economic and technical parameters for the project. Evidence · text > Lomiko Metals Inc. Delivers Positive Preliminary Feasibility Study For La Loutre Graphite Project **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PFS, mineral resource, and mineral reserve estimates were prepared in accordance with National Instrument 43-101. Evidence · text > The PFS was completed by DRA Global \(“DRA”\) in accordance with National Instrument 43-101 \(“NI 43-101”\). **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Multiple Qualified Persons \(QPs\) are named as responsible for the mineral resource and reserve estimates. Evidence · text > The independent and qualified persons for the mineral resource estimate, as defined by NI 43-101, are Marina Iund, P.Geo. \(Norda Stelo\), Kerrine Azougarh, P.Eng. \(Norda Stelo\) and Oliver Peters, P.Eng. \(DRA\). **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The mineral resource estimate includes a Measured category for the EV deposit and total. Evidence · table > Measured resource Context: EV **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The mineral resource estimate includes a significant Indicated category for both EV and Battery deposits. Evidence · table > Indicated resource Context: EV **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The mineral resource estimate includes an Inferred category for both EV and Battery deposits. Evidence · table > Inferred resource Context: EV **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The document declares maiden Probable Mineral Reserves for the project. Evidence · text > The probable mineral reserves were prepared in accordance with NI43-101 using a 1.50% Cg cut-off grade of 46.8 Mt at an average grade of 4.79% Cg for a contained in-situ graphite quantity of 2.24 Mt. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The document announces the declaration of maiden Probable Mineral Reserves. Evidence · text > declaration of reserves **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The PFS includes updated mineral resource estimates, building upon previous studies. Evidence · text > updated resources **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The cut-off grades for both mineral resources \(0.95% Cg\) and reserves \(1.50% Cg\) are clearly stated. Evidence · text > At the base case cut-off grade of 0.95% Cg **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The average LOM mill recovery rate is projected at 93.0% Cg, which is exceptional for graphite flotation. Evidence · text > Average LOM mill recovery of 93.0% Cg. **Locked-Cycle Test** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Metallurgical test work included locked cycle testing \(LCT\) on the master composite, indicating a strong test scale. Evidence · text > The size distribution was derived from the lock cycle testing \(LCT\) on the master composite by SGS Canada Inc. **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: Metallurgical test work was conducted on a 'master composite', suggesting limited variability testing across different ore domains. Evidence · text > The size distribution was derived from the lock cycle testing \(LCT\) on the master composite by SGS Canada Inc. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (11) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-0) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:3ad3cd4bc0eb74b63d59 - Deposit or zone: EV - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 215000 - Grade: 4.47 - Grade Unit: % - Contained Metal: 9.6 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Measured resource for the EV deposit provides high confidence in a portion of the resource base, contributing positively to the overall project de-risking. - Positive factor: High confidence Measured category - Positive factor: NI 43-101 compliant Evidence · table > 215 Context: EV #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-1) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:24c71c2dc49b81b4f4b3 - Deposit or zone: EV - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 27114000 - Grade: 5.43 - Grade Unit: % - Contained Metal: 1473 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Indicated resource for the EV deposit represents a substantial portion of the project's resource base with a good grade, supporting the PFS. - Positive factor: High confidence Indicated category - Positive factor: Good grade for graphite - Positive factor: NI 43-101 compliant Evidence · table > 27,114 Context: EV #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-2) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:434760a6b648c4117a10 - Deposit or zone: EV - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4021000 - Grade: 3.93 - Grade Unit: % - Contained Metal: 158 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Inferred resource for the EV deposit adds to the project's overall potential but carries lower geological confidence compared to Measured and Indicated categories. - Positive factor: Adds to overall resource potential - Positive factor: NI 43-101 compliant - Negative factor: Lower confidence Inferred category Evidence · table > 4,021 Context: EV #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-3) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:a77a3a563dda67c3b088 - Deposit or zone: Battery - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 42627000 - Grade: 3.76 - Grade Unit: % - Contained Metal: 1602 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Indicated resource for the Battery deposit is a large component of the project's resource base, providing strong support for the PFS. - Positive factor: High confidence Indicated category - Positive factor: Significant tonnage - Positive factor: NI 43-101 compliant Evidence · table > 42,627 Context: Battery #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-4) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:de080436c11d8088eaab - Deposit or zone: Battery - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 16258000 - Grade: 3.43 - Grade Unit: % - Contained Metal: 558 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Inferred resource for the Battery deposit contributes to the project's overall scale but requires further drilling to upgrade confidence. - Positive factor: Adds to overall resource potential - Positive factor: NI 43-101 compliant - Negative factor: Lower confidence Inferred category Evidence · table > 16,258 Context: Battery #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-5) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:f74948928b32ce7ce05e - Deposit or zone: TOTAL - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 215000 - Grade: 4.47 - Grade Unit: % - Contained Metal: 9.6 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The total Measured resource provides a high-confidence base for the project, supporting the PFS. - Positive factor: High confidence Measured category - Positive factor: NI 43-101 compliant Evidence · table > 215 Context: TOTAL #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-6) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:0ed4ae009ed0c7b29a1f - Deposit or zone: TOTAL - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 69741000 - Grade: 4.41 - Grade Unit: % - Contained Metal: 3075 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The total Indicated resource forms a significant and high-confidence portion of the project's mineral inventory, underpinning the PFS. - Positive factor: Large Indicated resource base - Positive factor: Good grade for graphite - Positive factor: NI 43-101 compliant Evidence · table > 69,741 Context: TOTAL #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-7) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: resource - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Marina Iund, Kerrine Azougarh, Oliver Peters - Resource group id: resource:3f298407942adf1f8ed1 - Deposit or zone: TOTAL - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 20279000 - Grade: 3.53 - Grade Unit: % - Contained Metal: 716 - Contained Unit: kt - Cutoff Grade: 0.95 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The total Inferred resource provides additional exploration upside but requires further work to achieve higher confidence categories. - Positive factor: Adds to overall resource potential - Positive factor: NI 43-101 compliant - Negative factor: Lower confidence Inferred category Evidence · table > 20,279 Context: TOTAL #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-8) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: reserve - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kerrine Azougarh - Resource group id: resource:bdc51e4140d1c69587d5 - Deposit or zone: EV - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 18894000 - Grade: 5.66 - Grade Unit: % - Contained Metal: 1070 - Contained Unit: kt - Cutoff Grade: 1.5 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The declaration of Probable Reserves for the EV deposit is a significant de-risking event, demonstrating economic viability for a substantial portion of the resource. - Positive factor: Maiden Probable Reserve declaration - Positive factor: Good grade for graphite - Positive factor: NI 43-101 compliant Evidence · table > 18,894 Context: EV #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-9) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: reserve - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kerrine Azougarh - Resource group id: resource:d4c35674dbc09f532595 - Deposit or zone: Battery - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 27906000 - Grade: 4.2 - Grade Unit: % - Contained Metal: 1171 - Contained Unit: kt - Cutoff Grade: 1.5 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The Probable Reserves for the Battery deposit add substantial economically viable tonnage to the project, further de-risking its development. - Positive factor: Maiden Probable Reserve declaration - Positive factor: Significant tonnage - Positive factor: NI 43-101 compliant Evidence · table > 27,906 Context: Battery #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-resource-facts-10) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Resource scope - Estimate type: reserve - Effective date: 2026-02-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kerrine Azougarh - Resource group id: resource:e989859f085b2e617d2d - Deposit or zone: Total - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 46804000 - Grade: 4.79 - Grade Unit: % - Contained Metal: 2241 - Contained Unit: kt - Cutoff Grade: 1.5 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2026-02-19 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The total Probable Reserves provide a robust and economically viable foundation for the La Loutre project, confirming its potential for development. - Positive factor: Overall maiden Probable Reserve declaration - Positive factor: Significant contained graphite - Positive factor: Good average grade - Positive factor: NI 43-101 compliant Evidence · table > 46,804 Context: Total #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--75ce0ba4-e106-4c0e-8c49-d29937b27a7b#fact-metallurgical-facts-11) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec - Ticker: LMR #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard flotation technology - Sample: master composite #### Recovery - Recovery: 93 % - Recovery Basis: actual\_test - Conc. Grade: 97 - Conc. Grade Unit: % #### Lab - Laboratory: SGS Canada Inc. - Consultant: Metpro Management Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: The high recovery rate of 93.0% and concentrate grade of 97.0% Cg from flotation test work are very positive, indicating efficient processing, though the use of a master composite suggests further variability testing may be beneficial. - Positive factor: High recovery rate for graphite flotation - Positive factor: Good concentrate grade - Positive factor: Locked-cycle test \(LCT\) provides strong confidence - Negative factor: Test work based on a master composite, suggesting limited domain coverage Evidence · text > The plant has been designed to realize an average recovery of 93.0% of the graphite at a concentrate grade of 97% Cg over the life of the project based on metallurgical test work completed by SGS Canada Inc. and the process design work as part of the PFS. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.