Potential ML - LNY, page-229

Have a read of Stevienix1's posts - I was bickering with him a fair bit about KBL... When you really break it down, KBL spent alot on a plant but they dont really have the resource definition to justify it.

Pearce will cover short term debt issues - along with further capital raising but after that, the stream deal still remains, costs will go up slightly to account for the lower grade pearce north and what is currently contained there, if you look at the production figures they have been processing - it might only sustain a couple of years of mine life. They are targeting 7-10 year extension but IMO they wont get it on what they have in the ground at the moment.

Then you have the games being played by the big money, too much power and loose holdings with some of them. 100m dump yesterday just before close of trade. Placements, oppies, notes, stream deal etc... It is a fairly complex capital structure.

I value it at least double what it is now - with the view to around 4x once the debt and note issues are ironed out or derisked but definitely a risky stock - I probably should have researched a little deeper before getting on board.