I am happy with progress and planning for 2022, especially the drilling and exploration plan. Our resource is <0.5 MOz ....which is small .... so a focus on DD and resource expansion is key. We are still an explorer .... not positioned at the moment to be a major producer.
Like Towie ... I will take up the full entitlement/ purchase plan offer. IMO SP will not rise until after cap raise ... why would holders or new investors buy at over 0.5c when the SPP/EI is at 0.5c with a 0.8c option.
Like Rhazzle I think it is a good time for patience, and looking at the plan for 2022 and into the longer term.
My hope is for good drill results in NZ at Jubilee ... last drilling showed 521g/t which is extraordinary ... and if this is a sign of a large MOz deposit at depth it will be a game changer.
I have been a holder and accumulator for many years, and I'm frustrated with the share price not increasing over this time, and the opportunity cost of not investing elsewhere for those years. This is a higher risk/reward play for me ... I'm looking for a multibagger and SP at 2-3c before exit. So the high volatility is part of the journey here.
Lots of ifs still here .... if they find good drill results, if the JORC reaches >1 MOz, if they purchase plant and have other mines in area use it, if gold price remains high, if plant operates well. Not for the faint hearted ... if you want a stable, non volatile gold stock go blue chip or NST.
LNY Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
