Can I ask those attending the Annual Meeting to be please be civil to the chairman SB, considering the recent passing away of a family member of the Bizzell family earlier this year. I don't know SB personally, but condolences to the Bizzell family. Fair to question strategy and performance but beyond that he is not going to tolerate anything vitriolic or personal. You will be asked to leave (and rightly so). Offer him condolences and be respectful, ask questions factually and calmly. https://www.themercury.com.au/tributes/notice/funeral-notices/bizzell-glenda-zoe-nee-barrett/5441234/
Fair crack of the whip Matt180890 about my crystal ball predictions.
Laneway did not achieve the milestones needed to lift the SP in 2020 to achieve what I considered it's real value to be (1.5c to 3c). It was not able to fulfil its stated plans for 2020 to drill the wider Agate Creek tenement or Sherwood (2500+m) nor Jubilee in NZ. JORC increase was perhaps 31,000+ Oz Au in 2020 = $80m @AUD$2,600/Oz, and @AISC $1600AUD = $31m profit We doubled the Market Cap in projected earnings and few people have come to the party to invest. And this in a year where small share holders are under the pinch - with the share market shot globally and highly unstable, job security low, businesses hitting the wall, and high unemployment and underemployment rates, global pandemic and worsening China-AUD-US-EU relations.
Exploration of Agate Creek
2020 = 2000m of RC drilling at Sherwood (9,000Oz high grade epithermal deposits on north aspect of Sherwood for immediate mining, 22,000 Oz in another epithermal shell req EA approval and likely mining n 2021)
2019 = 2244m of RC drilling (Sherwood/West 1600m, and 600m wider Agate creek area) - 11/60 regional targets passed over = Jedda, Eastern Bar, Eastern Bar South, Delaney and Moonbeam. Hole depth max 60m, most RC holes <30m. Gold found in 3/3 shallow passes at Jedda from 8m drill depth 1.2g/t Au for 1m, and from 11m 2.3g/t Au for 2m, & Ag was 35g/t. Moonbeam 2/2 drills hit Ag up to 45g/tAg. Delaney 7/10 drills hit Ag up to 58g/t. Eastern Bar hit up to 12g/t Ag.)
2018 - 1314m of RC drilling at Sherwood High grade epithermal deposit was found from 5m depth at grades of 91g/t.
The plan in 2021 looks to be 3000m* DDH for NZ in 2021 (8 x 375m depth), explore Sherwood to depth (DDH for Bonanza), and the wider tenement with Jedda as a priority (as the drill hit gold, hit gold and then hit gold again at Jedda - a hat trick ... The last quarterly states 'Planning continues for future drilling programs at Agate Creek with land access arrangements being progressed and drill site locations being identified'. This is quite vague. However based on exploration trend 2500+ of further RC exploration could occur in 2021.
Get EA approval and mine the 20,000 Oz AU in the wider shell
Establish sustainable processing option locally (such as onsite trial CleanMining plant or local CIL plant)
What do you think the SP would be worth? What other milestones do you think will need to be met to reach your SP target?
Yes I am not happy with the underperforming share price, yes if they explored Agate Creek in 2021 like they planned to the JORC increase could have been much bigger, Yes I could have invested in other stock and made more money, Yes Covid-19 really restricted the company's progress this year, yes we are approaching the wet season (low activity period in QLD sites for 2 months... however the weather Cloncurry way has been fine all Nov) .... but I see no need to make things personal. I think the BOD and SB genuinely want the SP to go up, and attract investors. Yes PW and other another director divested in 2019 and the media pulled them up on this. They have not repeated this in 2020.
I have withdrawn my sell orders for this stock. I am capped with my investment here .... my prediction is following the AGM when the board member votes are settled the market will regain some confidence in the stock. A potential board spill will give the market the jitters until the coin lands.
Gold will remain a safe haven IMO, and with a depleting global resource I predict POG to continue to climb due to macroeconomics, as well as coking coal and steel for the infrastructure led recovery.
I need to vote with my head at the AGM in a way that aligns to what I think the company would get best value from. Full respect to RK for having a go and stating his platform. My priority list is exploration of Agate Creek (wide across the tenement esp Jedda and Nottingham, and deep at Sherwood), focus on NZ drilling (and seeing if OceanGold Waihi wants to farm in to the project or takeover), retain the Ashford coking coal interest (for infrastructure recovery), and clean mining processing plant scoping.
At the AGM I would like some detail on how much RC and DDH drilling is planned in Agate Creek and Jubilee in a way that is quantifiable - the Metres of exploration, and the AISC . These will be discretely assessable KPIs for BOD in 2021.
Just feels like the wrong time to sell for me. I'll stay put and see how the AGM goes. I think the Market will closely look at LNY when it produces gold bars from Lorena this year. It's a high stakes period for the company ... if MAAS and LORENA come through.... it will be a couple of 6's for me.
Bit of trivia to lighten things up -- which world cricketer has scored the most 6's - hint: first is AG and second is MH. Howzat.
LNY Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
(20min delay)