Ann: Outstanding High Grade Gold Drilling Results, page-136

20c share price would represent an EPS of 1.33c @ a P/E of 15 (ASX 200 average)This would imply a mine with a life of over 15 years making a profit $49 mil/year. All we need to achieve that is to net $500/oz for 100K * Ozs P/A with a reserve of 1.5 mil ozs +.
We have about 300K ozs reserve already so all LNY has to do is keep drilling and hit those high grade veins
Last week's results are encouraging, IMO.
LNY may have to drill at an angle to hit the lower/rich veins, again, IMO.

* 100K ozs P/A at say an average of 10 g/t is only 310K tons of ore P/A or a plant throughput of about 36 T/P/H which is a small plant by Aussie
standards.

All IMO.