SVG (ASX) Ann: Laneway to Resume Gold Production from Agate Creek

Originally posted by Rhazzle: ↑

I am seeing a lot of concern and negative posts from SHs expecting more.This is totally understandable. It is so frustrating at times being a LNY investor. I agree and will be voicing many of our concerns at the next AGM and noting the answers.

Minority shareholders have more rights which can surmount majority rights if oppression can be proven. But I believe there is no need to explore that path as I expect the transaction detail will come out at the next AGM to assuage our concerns. SB is a majority shareholder and treads a fine line with various self-owned interests benefiting from LNY. This happens because with a 70%+ shareholding he looks at it like his own business. He is a good businessman and understands as a company director he needs to not expose himself to claims of ‘conflict of interests’ or oppression.

LNY is definitely not a quick get rich investment. Three to five years would be my estimate.I hold a basket of other gold focused shares such as TSC, SAR, ADV, CTY, BGL, AUT, OAR which may give me a quicker return.But as a substantial LTH LNY shareholder after following, researching and studying the minor gold caps for around 50 years, IMO I believe LNY will eclipse my other holdings in 3 to 5 years with the price being closer to $1 than 1 cent.

IMO anyone who wants a quick return should sell up and look at the many other share opportunities available. Why be stressed when you don’t need to be.

Our CEO is determined to not dilute our shareholding by raising capital by way of issuing more shares. Full marks for that approach. But the downside - it does slow down development and we end up taking the slow lane to get to the final destination. But I think we all know the final destination is looking very golden indeed and worth the wait.

Notwithstanding the slowness of actions and the minimal communications by management the fundamentals are still intact.Namely $14 billion of proven JORC gold in the ground and near the surface.And that is without NZ coming into the equation or the results from drilling the other promising areas of our huge Agate Creek lease.

I have noticed Steve Bizzell seems to prefer to strike win-win share profit deals with contractors. Which is good business with built in insurance. But as usual with this method some deals don’t always work out. Like Maroon going bust and owing us $1.8m. Let’s hope we can recover some of this, in cash or kind, being equipment and plant. But the Maroon deal did bring in considerable cash for the company at no cost or dilution to us. And we have plenty of that yellow stuff to do that kind of deal whenever to get to where we want to be.

I guess that would be lots of proven JORC and our own processing plant with a JORC proven NZ resource we can JV out.The SB style of business is slow but steady. IMO the deal struck with transport and processing will extract sufficient funds coupled with existing cash in bank to cover the promised more extensive drilling and processing plant.

Let’s face it. LNY is SB’s business and we are onboard for the ride. Our role as minority SHs is to populate the company vehicle LNY, as shareholders, which will make it easier for SB to realise the value when it comes time to cash in by JV or TO.

So IMHO the bottom line is – patience is needed. But not silent patience. We do have a voice.I hope the above perspective is helpful to some posters.As always please do your own research.

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A balanced and constructive analysis Mr Rhazzle. I share your sentiment about patience. I am a bit overexposed in my investment here, so will be looking to diversify to some other projects. I retain a long term optimistic outlook for LNY. But it has been a frustrating journey at times to the end destination.
Just drill those deep Bonanza zones LNY.

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Last 2.4¢		Change -0.001(4.00%)		Mkt cap ! $6.746M

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Ann: Laneway to Resume Gold Production from Agate Creek, page-78

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