Ann: Exploration Update and commencement of drill, page-11

re: Ann: LCY: Exploration Update and commence... I hold both LCY and HAW. Granted I hold a smaller position in HAW but still hold all the same.

Whilst I have been critical of HAW management in the past, the amount of upside here is pretty clear to me. Mt Bevan is an asset of pure class.

I cannot see how LCY will not offer HAW a nice sum for the remaining 40% in some way shape or form. As we know shortly there will be some significant money being spent on drilling by LCY.

There was a particular segment of the recent somewhat fluffy LCY announcement that stuck out to me:

"This phase 3 drilling program has two objectives.
The first is to convert a 2 km strike length of magnetite mineralisation from a JORC compliant Inferred category to Indicated status, – increasing confidence in the 1.6B ton resource as a prelude to mine planning."

LCY have made their plans for Mt Bevan clear and I have no doubt HAW will be a winner out of all this, especially once this drilling is completed. The value of your asset has just gone up, before the drillers have even been paid.

The remaining 40% will be worth even more once drilling is finished. The share price will reflect this in due course. You'd be silly to sell now. (IMO).

Cheers