daytrade diaries... november 13, page-8

LCY is still looking like it's beginning to rerate.

Similar Assay iron ore grades (55 - 65%) to HEM and has recently secured JV partners to fast track Robertson Range Pilbra tenement in close proximity to BHP, Rio and FerrAus

last week another JV partner was secured to fast track Lyon's River iron ore Tenement Est of Carnarvon WA. Assays have shown 58.8% - 67.2% iron with low impurities from 1m below surface. Targeting 10 - 20

Both announcements had selling into them expected to be from recent capital raising but has now stopped and allowed for a building march upwards.

> Cash in bank.
> Drilling underway to further define
> Short term target 17 - 20 with current cap to bring inline with HEM (LCY should be further with JV partners and drilling)
> Tightly held it will move quickly when it wants to.

Could be a good trade into the rise or a short term hold on drilling results expectation.