Overview of Lord Resources' recent announcement

Lord Resources Limited (ASX: $LRD) has successfully completed a $1.5 million placement, with firm commitments from institutional and sophisticated investors, as well as existing shareholders. The funds raised will be directed towards exploration activities at the Horse Rocks and Jingjing Lithium Projects, both located in Western Australia near the Mt Marion Lithium Mine. Mineral Resources Ltd (ASX: $MIN) has completed its due diligence on the Horse Rocks Lithium Project, paving the way for further exploration and development.

Executive commentary on the placement and exploration plans

Executive Director Barnaby Egerton-Warburton expressed gratitude towards shareholders and new investors for their commitment to the placement. He highlighted the strong response as a reflection of the quality of the Lord Projects, emphasizing their strategic locations in Western Australia's prominent lithium addresses. The placement funds will be instrumental in exploring the Horse Rocks and Jingjing Lithium Projects, as well as assessing new opportunities in the battery and critical minerals space.

Summary of Lord Resources' placement and exploration outlook

Lord Resources (ASX: $LRD) has successfully raised $1.5 million through a placement, with a focus on advancing exploration at the Horse Rocks and Jingjing Lithium Projects. The completion of due diligence by Mineral Resources Ltd (ASX: $MIN) on the Horse Rocks Lithium Project marks a significant milestone, allowing for the resumption of geological mapping, sampling, and the upcoming drilling campaign. The funds will also support the assessment of new lithium projects, reflecting Lord Resources' commitment to expanding its presence in the lithium and critical minerals sector. With results from soil sampling at the Jingjing Lithium Project expected in mid-June 2024, the company remains poised for further developments in its exploration endeavors.