"multi millions of iron ore has been sitting in the ground for thousands of years and even if they just have to sit on it for another five years"
1) For thousands of years, didn't need to pay director fees.
2) One year cost them $1m+ director fees & mine maintenance costs and exploration of new area they acquired, so essentially you need $2-3m p.a. to run out of $4.5m mc. Last spp was only $200K. You will need share placement and do massive dilution. With good drill results this will be difficult.
Better solutions (from my previous post) are (1) TFA t/o FWL and go private, or (2) speak to Kobe Steel to provide funding. This way you can avoid massive dilutions. Holders might get some return on their investment or at least happiner.
As I said in earlier posts a while back, without DSO it will not get anywhere. DSO is must. As you can see without DSO, everything stops.
LCG Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
