I agree that this Management is not the best But I don’t want to...

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shivathakur4

943 Posts.

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08/06/23

14:03

Post #: 68196907
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Originally posted by ForeverNewbie: ↑

I am going to be critical here because I think people need to have a real hard think about whether LRV is right for them.
Yes, the dusters were known however, I think what most of the market is selling off is few reasons and I need to be stern with some of your points.

1.) For 6 months, all we have done is collect some samples and had them tested.

2.) July quarter does not mean July/August it means it can be September as well. This for me is one of the two biggest issues.
- Management have never been able to stick to any of their timelines and that is what is being brought into questions.
- Moreover, if the drilling occurs in late August that shows an entire year with one drilling campaign and a duster. Yes, we were rained out but you can see why the market is unsure of this announcement.

3.) People's fear of Ron withholding results seems to to have been proven true. There is almost 0% chance that these rock samples were finished at the exact time as the Isa drilling results. He has clearly held off to sugar coat the dusters. This brings into questions every result that we have upcoming. Investors now have to think whether their are delays or is he withholding bad results. Yes, we if you had half a brain you'd know they were dusters but it is the trust in management that is rock bottom right now.

4.) Stop making a big thing out of waratah. They're portfolio is over 4 billion. Their 1m investment in LRV is worth 0.025%. They do not give a flying f* in what we do.

5.) There is no drilling taking place. If NZ comes back with dusters and REE is not ionic there is no new catalysts for shareprice appreciation for months.

Eyre: Even when we get permits, I would say 1 month to mobilize the rig, 1 month campaign, 2 months results (thats if it only takes 8 weeks. Will be interesting to see how fast L1M get their assasys). Thats 4 months from when the heritage surveys are completed

Isa: Between 1-3 months, 1 month for drilling and apparently 4 month wait for assays, since thats how long it took this time. that's 6-8 months

NZ: Can f**k right off if we haven't hit the feeder.

Mind you this guy gets paid 400k a year now, why did he go to NZ the other week? Nobody knows. These are all legitimate concerns and I think any investor right now is thinking whether their money is best served here.

I am honestly considering, selling to buy back in in a few months time when drilling commences. That's just me but there is becoming less and less newsflow with nothing additional starting either.

Expand

I agree that this Management is not the best But I don’t want to see another drilling campaign at Isa without proper testing works otherwise we might end up spending another million for Duster Results.

This time they are trying to find best target to start with.
Not sure just assuming that they just kick out the Bad results before we see some good results on the way.

Lets see what they do in next 3 months.

LRV Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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