Ann: Laneway to Resume Gold Production from Agate Creek, page-59

Too many chiefs, not enough Indians.
KPIs stated in Company announcements but not met

• Q3 Mining in Agate Creek (didn't happen)
• 2020 Drilling in Jubillee (hasn't happened yet - 3 months to go)

When Directors in black and white tell the market they will achieve something, and then don't - there should be consequences for their remuneration.
If they are getting paid fulltime for this jig - whilst also being directors at other ventures - and while the mine is on reduced operations due to covid-19 it doesn't pass the pub test.
What value do they add to the project? - it is a small small explorer - pulling out 10-20,000 OzAu annually of epithermal deposits as a drip feed to keep the company operational but only receiving a fraction of that after CIL Processing deals.


This is what LNY achieved last campaign - 97% gold recovery at Maroon for 16,000 ounces, 2019. We only saw a return for 4000 ounces however (25% return of the resource supplied).
This campaign they are aiming at 9,000 Ounces, (4000 in 2020) and once EA is approved a further 22,000 Ounces from the deeper Whittle.
As a comparator MAT (Matsa) has the same market cap as LNY and production is 1,000 Ounces a month. However their AISC is high as operations are underground. Both are drip feed operations until they prove JORC and can scale up. Or build onsite low grade feed processing plant (in our case)
https://www.matsa.com.au/wp-content/uploads/2020/09/200820-MAT_Investor-PresentationFINAL-02-09-2020.pdf