Gassed, messy is an understatement imo, of course it’s going to slide south. Just wait and see.
I won’t go into all the reasons this SP will fall heavily as I have posted in detail several times previously.
But SB cannot control or stop the market. Very uncertain economic times ahead with inflationary and recessionary pressures in front of us, is a major concern for this little producer who is just starting out. Plus we have no new independent T20 or institutionals, basically the board and SB own over 50% of LNY. It’s way too tight a register imo and will have an impact.
Also our boards past history will impact and fail to attract the institutions in my opinion. Many won’t forget the last decade, the status quo remains and institutionals know this imo.
I talk to many exec’s, CEO’s and MD’s from many other companies nationally and the common response isn’t that supporting on LNY. Many know nothing about LNY and some are even in QLD. That’s a problem I had over the years about the sub standard and unacceptable communication by LNY imo. It is improving finally which is welcoming. But the past has and will effect us in ST, MT until runs on the board.
Of course sentiment will change positively in time. But LNY have to acknowledge the past and reputation has been damaged and it’s really bad timing to consolidate now imo due to some of the above factors as I see it. I want success like everyone here but see the reality while some here are way too narrow focused of just a gold bar. I see the holistic effects of LNY.
Importantly it’s going to take several months of processing ore and see how the grades go and if they fall off significantly, will effect our cash surplus. As the lack of cash and debt obviously is a major hamstring to LNY maintaining momentum after consolidation. We have a large debt to repay etc. As this certainly impedes an aggressive drilling program in Geaorgtown and NZ any time soon, so impedes momentum which is critical after a consolidation.
That’s why this timing to consolidate was in my opinion a major stuff up. Should at least had no debt first then done it as I said many times, in 2023 after LNY actually prove themselves to holders and the market imo.
GLTA and how’s your options going guys. Yep as I said from start, nowhere. Waste of time weren’t they. Onya LNY, really supporting the retail holders I see.
