Ann: Quarterly Activities Report, page-114

Matt I will share my research with you... I base my research on junior gold companies with a similar Share Cap but the analysis works with any company -
LNY
1. what does the company owe?
- little if anything when balanced against present cash flow

2. what they have in proven assets
- more than $1 billion in proven gold plus potential at Agate Creek and in NZ

3. who is at the helm?
- Stephen Bizzel a proven financial wiz

4. what they can they fall back on without Capital Raising?
- a) cash flow from gold being produced
b) sale of NZ assets
c) funds to come in from Coking Coal asset sale

5. is there cash flow?
- gold bars are being produced now

6. Is there more potential?
- as stated by LNY, extensive drilling is happening throughout this year at Agate Creek in areas which show promising samples. Hopefully later this year as planned drilling will commence in NZ.

As you pointed out in need there is a backup loan facility in place and LNY can always forward sell gold.
SB has stated a number of times there is no need for CR and I agree.
The above is why I maintain LNY is looking solid.But please DYOR...