# Lomiko Metals Inc. Delivers Positive Preliminary Feasibility Study For La Loutre Graphite Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4 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, Canada - Primary commodity: Graphite - Secondary commodities: None reported - Document categories: Resource update, Metallurgy - Extracted: 2026-08-21 00:50:54 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Lomiko Metals Inc. has announced highly positive results from a Preliminary Feasibility Study \(PFS\) for its La Loutre Graphite Project in Quebec, Canada. The study outlines robust economics with a pre-tax NPV of CAD$797.5M and an after-tax NPV of CAD$617.4M, alongside a 28-year mine life. The PFS also declares maiden probable mineral reserves of 46.8 Mt at 4.79% Cg, projecting an average annual concentrate production of 79.6 kt at 97.0% Cg. Reasoning: The Preliminary Feasibility Study demonstrates robust economic viability for the La Loutre Graphite Project, supported by the declaration of significant probable mineral reserves and high metallurgical recoveries, all compliant with NI 43-101 standards. - Positive factor: Strong economics \(NPV, IRR, payback\) - Positive factor: Declaration of Probable Mineral Reserves - Positive factor: NI 43-101 compliant study - Positive factor: Long mine life \(28 years\) - Positive factor: High graphite recovery \(93%\) - Positive factor: High concentrate grade \(97% Cg\) - Positive factor: QP/CP sign-off for MRE and Reserves 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. Evidence · text > Preliminary Feasibility Study \(“PFS”\) **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 was completed in accordance with National Instrument 43-101. Evidence · text > 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: Qualified Persons are named and approved the technical content of the PFS, MRE, and Reserves. Evidence · text > The contributors to the report are Qualified Persons \(“QP”\) under National Instrument 43-101 and are independent of Lomiko for the purposes of the NI 43-101. **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. Evidence · table > Measured resource Context: Deposit **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 an Indicated category. Evidence · table > Indicated resource Context: Deposit **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. Evidence · table > Inferred resource Context: Deposit **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The PFS declares Probable Mineral Reserves. Evidence · table > Probable Reserves Context: Deposit **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The PFS includes updated resources and the declaration of reserves since a previous PEA. Evidence · text > updated resources, declaration of reserves **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for both resources and reserves are explicitly stated. Evidence · text > base case cut-off of 0.95% graphite highlighted **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 of 93.0% Cg is strong for graphite flotation. Evidence · table > 93.0% Context: Mill Recovery Rate \(%\) **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing plant employs standard flotation technology. Evidence · text > The La Loutre Process Plant employs standard flotation technology **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The PFS recommends advancing the project to a Feasibility Study \(FS\). Evidence · text > recommend that the La Loutre Project be advanced to the next stage of development through the initiation of a FS ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (12) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-0) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: measured - Tonnes: 215000 - Grade: 4.47 - Grade Unit: % - Contained Metal: 9600 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A small measured resource for the EV deposit is reported, providing high confidence for a portion of the resource. - Positive factor: Measured resource category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 215 Context: EV ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-1) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: indicated - Tonnes: 27114000 - Grade: 5.43 - Grade Unit: % - Contained Metal: 1473000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A significant indicated resource for the EV deposit is reported, providing a strong basis for economic studies. - Positive factor: Indicated resource category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 27,114 Context: EV ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-2) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: inferred - Tonnes: 4021000 - Grade: 3.93 - Grade Unit: % - Contained Metal: 158000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: An inferred resource for the EV deposit is reported, which is speculative and requires further drilling to upgrade confidence. - Negative factor: Inferred resource category Evidence · table > 4,021 Context: EV ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-3) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: indicated - Tonnes: 42627000 - Grade: 3.76 - Grade Unit: % - Contained Metal: 1602000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A significant indicated resource for the Battery deposit is reported, providing a strong basis for economic studies. - Positive factor: Indicated resource category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 42,627 Context: Battery ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-4) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: inferred - Tonnes: 16258000 - Grade: 3.43 - Grade Unit: % - Contained Metal: 558000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: An inferred resource for the Battery deposit is reported, which is speculative and requires further drilling to upgrade confidence. - Negative factor: Inferred resource category Evidence · table > 16,258 Context: Battery ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-5) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: measured - Tonnes: 215000 - Grade: 4.47 - Grade Unit: % - Contained Metal: 9600 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A small total measured resource is reported, providing high confidence for a portion of the overall resource. - Positive factor: Measured resource category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 215 Context: TOTAL ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-6) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: indicated - Tonnes: 69741000 - Grade: 4.41 - Grade Unit: % - Contained Metal: 3075000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A significant total indicated resource is reported, forming a strong basis for economic studies and potential reserve conversion. - Positive factor: Indicated resource category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 69,741 Context: TOTAL ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-7) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: inferred - Tonnes: 20279000 - Grade: 3.53 - Grade Unit: % - Contained Metal: 716000 - Contained Unit: t - Cutoff Grade: 0.95 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A substantial total inferred resource is reported, which is speculative and requires further drilling to upgrade confidence. - Negative factor: Inferred resource category Evidence · table > 20,279 Context: TOTAL ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-8) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: probable - Tonnes: 18894000 - Grade: 5.66 - Grade Unit: % - Contained Metal: 1070000 - Contained Unit: t - Cutoff Grade: 1.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A significant probable reserve is declared for the EV deposit, indicating economic viability and de-risking the project. - Positive factor: Probable reserve category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 18,894 Context: EV ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-9) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: probable - Tonnes: 27906000 - Grade: 4.2 - Grade Unit: % - Contained Metal: 1171000 - Contained Unit: t - Cutoff Grade: 1.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A significant probable reserve is declared for the Battery deposit, indicating economic viability and de-risking the project. - Positive factor: Probable reserve category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed Evidence · table > 27,906 Context: Battery ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-10) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Resource Data - Category: probable - Tonnes: 46804000 - Grade: 4.79 - Grade Unit: % - Contained Metal: 2241000 - Contained Unit: t - Cutoff Grade: 1.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A substantial total probable reserve is declared, representing a major de-risking milestone and confirming the project's economic viability. - Positive factor: Probable reserve category - Positive factor: NI 43-101 compliant - Positive factor: QP/CP signed - Positive factor: Significant contained metal Evidence · table > 46,804 Context: Total ### Fact 12 [Link to this fact](https://atlas-staging.minestarters.com/news/lomiko-metals-inc-delivers-positive-preliminary-feasibility-study-for-la-loutre--5cb0335d-1423-410d-bb47-b06bd2caafd4#fact-resource-facts-11) La Loutre Graphite Project · graphite #### Identity - Project: La Loutre Graphite Project - Commodity: graphite - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: LMR #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-03-24T00:00:00.000Z Reasoning: A high average LOM mill recovery of 93.0% Cg at a 97.0% Cg concentrate grade is achieved using standard flotation, indicating favorable metallurgy. - Positive factor: High recovery - Positive factor: High concentrate grade - Positive factor: Standard processing route - Positive factor: Actual test basis Evidence · table > 93.0% Context: Mill Recovery Rate \(%\) ## 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.