Ann: Quarterly Activities Report, page-70

Bigman seems to be dwelling on the negatives as usual.
For whatever reason, he has overlooked the recently announced $1.4 billion JORC (proven) gold asset we hold at Agate Creek.

On the current number of issued shares this equates to around 37 cents a share before production costs.
$1.4B JORC proven gold divided by 3.72B shares = 37 cents value per share

The majority of the proven gold is within easy economical reach via strip mining. And we still have lots more promising ground surrounding the proven areas to drill.
I believe a smallish onsite processing plant at Agate Creek would provide an excellent cash flow for LNY and reduce production costs.

In addition NZ leases could also be another potential 'gold mine' for a JV and we have a Coking deposit which can also be JVd out.

Negatives - Management are financial people and not good communicators.
IMO LNY appears to be the share markets best kept secret. No effective PR at all.
Agate Creek has a serious gold reserve which requires a different level of expertise if we want to become serious miners.
But to their credit they have proven up a huge asset and LNY is debt free with cash in the bank.

IMO either way LNY has enormous medium to long term potential and the share price is way way under valued.