Why did the Latin Resources (ASX:LRS) share price bomb 14% today?

The Latin Resources Ltd (ASX: LRS) share price bombed today, despite announcing good news this morning.

The mineral exploration company is a favourite with Reddit investors and, even after today’s fall, currently has an incredible 12 month return of 1,600%.

At close of trade today, Latin Resources’ share price is 5.3 cents.

What did Latin Resources announce?

The company announced this morning that the second batch of samples from its Noombenberry project have shown the same ultra-bright white kaolin and high-grade halloysite as the first batch.

Latin Resources is the sole owner of Noombenberry, located in Western Australia.

The company…