"All CR's to 'Institutional & sophisticated' investors generally...

"All CR's to 'Institutional & sophisticated' investors generally trade below the raising price."... make your mind up haha. Some do, some don't, and the reasons have a lot to do with the general market direction post-CR and stage of project exploration/development imo.

Normally I would avoid stock like LIN at this stage, where Lassonde Curve is about to kick-in and price top out. PFS will pretty much be the last bit of good news 'surprise' unfortunately, whether holders like it or not. Kanga isnt a complicated deposit to explore, little doubt already how big and what grade it is... probably down multiple kilometers. After PFS it's just the grind of all the work for DFS and permits, community agreements, CRs, development etc, while nothing sexy or new adds to the story for new buyers soaking up stale bulls. Thta's the theory and it's a tough one to fight and win.

On LIN's side is that RE prices are low having been sold down over 18 months. My base case is not a bullish RE prices, may bounce a little before rising more definitively in a couple of years but at least that headwind is behind us. Rising prices lifts the whole curve upwards so to speak, even if the orphan stage is in play. Second, I'm not sure the market appreciates the margin generating value of Kanga's metalurgy and strategic value of low U&Th monazite (radioactivity). Thirdly, though it's too ealry, the best way to escape the clutches on Lassonde is M&A. Given Kanga already has a mining lease and various approvals in place, an obvious path to relatively quick cheap capex, cash generating Stage 1, M&A might happen quicker than usual.

I understand the risk LIN share price might struggle and continue to fall against all the fundamental reasons for massive undervaluation, seen it so often before. Happy to park some funds now long term and see how the market reacts to the PFS before making judgement on whether Lassonde has kicked in yet or not. Obviously hoping there is another big lift north after the PFS and the markett getst the chance to appreciate the simplicity and strategic value of the project.

GLTAH