laf tid bits

Well i think today saw alot of disgruntled longer term investors exit their position. This may be what's needed for the next leg up and a fresh support level. People that are entering into this now, have obviously factored in current risks and are comfortable with it.

After 2+ years and accumulating almost 400,000 shares at 11c, I am still invested, why??? because i still see the value in this project. Not only was it an attractive project when initial financing was approved, but it has become even more attractive considering where spot prices are.

Sure the delays have been significant, but they are a long way from closing it down. I will say it right now that this is the most unlikely event to occur. Why??? Government are still fully supportive, although they do have to show some concern (rightly so) and give all groups a fair go so that they don't put too many noses out of place, they don't want to stir the pot too much in this country. Insto's/finaciers are right behind them also.

So why are we still waiting when the plant is ready to go?? Well, the new kid on the block now has control and knows how to deal with this kind of political agenda driven resistance. He knows the extra time is needed to sort it all out.

Today's announcement also drew on the some points that would have worried many investors and made their decision to exit an easier one. The delay to March is an obvious one, the re-aligning of their hedge?? Maybe, that's not that big a deal though, they'll be likely to role the hedges forward (pay them out) and probably gain a few dollars on the gold contracts in the process. Will they need more money to get them through to mid March? Not likely, but if they do, you can bet they won't come to market to get it, the financiers will most likely throw in a few more million into the kitty knowing that this would be easily redeemable once in production.

Regarding management, it's easy to attribute blame, but i do think they've done all they can with the power they have - what more could they really do for us shareholders?? There is a fair bit of info (positive) that they can't disclose to the market - ring company if you want to find out.

I will finish in saying - LAF are pretty much ready to go, they know it's a political ploy causing the delay, that's what they've got to deal with.

I'll be here for another year or so, let's see where LAF will be. Who's staying?????