Yeah, I would have to agree with Mercury9, (me being totally biased of course) that the future is looking very interesting for holders of LNY. I can totally understand why some people have bailed, losing Moorookami's valuable insights and thoughts into LNY was a real shame, gassed bailing once he had his money back from the Renison days was also understandable. Management have chosen to run LNY like a very tight ship indeed, any sane person would have to say by breaching continuous disclosure rules. Because they hold so much skin in the game they run it like they are the only ones on deck, doesn't mean that those locked beneath in the hold don't stand to benefit, it definitely means though that the ones beneath deck cant see where they are going!!
So we should have conservatively about 5 million in the bank by the end of the September quarter. Surely with some drill results on the way. At a market cap of 26 million you would have to have a very dim view of the future indeed to be getting out at these prices. It seems a few did though, I picked some more up at .007 after having sold a few at .011, its impossible to know what is going on these days though as HFTs front run everything. Its all smoke and mirrors with a microcap like this, being run by management like this, with goddam supercomputers picking apart and cannibalising any and all legitimate market action.
The coalition being voted in has meant the Federal Inland Rail is going ahead as we speak, so by mid 2020s our coking coal will no longer be stranded. A few posters have mentioned that they think the coking coat is a dead end, I have no idea myself other than management seem to think it looks promising and that it costed a measly $350,000 for the other half we didn't already own. The board have made illusions to a 700,000 tonne processing plant, and that was at the start of the year, we would need a definitive feasibility study before that went ahead though, the board could easily have initiated that at the start of the year and just not mentioned it. Not to mention the fact that it would probably cost north of $30 million. Georgetown may or may not be part of our future, management are very tight lipped about everything, possibly to not tip off anyone to their intentions, which although potentially sinister may be for more practical considerations. I would hope to have a break down in the coming yearly or quarterly of what the ore yielded, amazing that they have made no mention of silver, maybe they have fashioned a throne out of it or something!?
I'm hoping to go to the AGM this year because the lack of information given out to shareholders is beyond dismal. That could change at any moment though with share price changing news being overdue...
Good luck to all shareholders
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