I agree, however Ron did say this literally came down to the...

I agree, however Ron did say this literally came down to the last day and I don't think he wanted to dilute so much but had no choice. Too much value on offer and results for Isa and Eyre not in to boost SP before the last day before Hillgrove got handed in.

I know this sucks from a dilution point of view, but look at the $AU Gold Price..... Hillgrove is a huge asset worth way more and will only go up in value a lot more for us. We will own a mine - all infrastructure, leases & gold in the ground for very little $...... Hillgrove has the ability to produce 30-50k oz per year, so if we say 40k oz pa @ $3000 AUD -- that's $120m turn over. If gold keeps going up, some say it should be $4-5k AUD, then this asset just keeps going up.

Imagine if we hit something in NZ, it would probably cost north of $500m to build a mine nowadays, plus all the nightmare of environmental & mining approvals -- imagine the dilution & spend needed then.

Ron is right, he can probably add a lot of value to Hillgrove by finding more gold and we're not just stabbing holes in undrilled land, we know there is gold there and high grade at that. What value would we be at if Hillgrove had 2 million ounces in JORC?

If this gets voted down then this opportunity is possibly lost for ever for LRV and we will just stay an explorer doing CR after CR after CR --- the dilution coming will probably get us to the same point or worse anyway. 200M shares on offer is not much for just and explorer. 200M shares on offer for an explorer who owns assets in 4 tier one locations and an operating gold mine + world class antimony reserve is pretty bloody amazing really.

Just trying to put a positive spin on this. If Ron builds up the reserves at Hillgrove we could probably sell the asset for $100m + ---- that would be a 50c per share sale.... not bad?