mt bev fair value, page-18

lol fair call @ above the normal duties. Nothing really to say to that after their pathetic comments in the Quarterly of going "over & above"

Who in their right mind would agree to splitting costs 50% but only getting 40% of the benefit ? Are you serious!?!?
It's 50% of the say on the steering committee but I would expect the development costs to be shared in the manner of allocated resource 60/40.
But what you're failing to see is we can just keep disagreeing with your Indian overlord's development path. I haven't seen the exact contract so, granted its stipulation on my part, but with 50% of the say I don't think NMCY err LCY can make us do anything we don't want to or agree with completely.

Your mathematics skills are lacking.
Total: cash at end of quarter (item 1.22) $2,890,000
Expected outflow next quarter $1,020,000

Leaving us with $1,870,000 coming into the October quarter.

By which time the results should be released, now $1,870,000 with admin costs of $1.2mil a year ($300k x 4) still leaves us with at least a year of delaying LCY's plans BEFORE any more funding is required.
The quarterly states the gold is near surface, meaning it would cost very little to develop the resource or get somebody else in to quickly develop it and share the profits (once this quarters exploration etc. is done)

Good luck with your 1c per share .. You might find yourself pretty lonely on the "Yes" side of any vote however.