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2.2¢ savannah goldfields limited

if LNY came out with a $3mil accelerated drill plan to a...

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dugsab

16,932 Posts.

2633

06/06/19

12:28

Post #: 38938706
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Originally posted by Fibro: ↑

IMO the market is waiting for a couple of things:

1) All JORC statements to be advanced from inferred and indicated to measured. The Au g/tonne measures are right up there Kirkland at 21.5g/t, who have a very low $226/t processing cost. We don't know what the strip cost is yet and at what depth the volume is.
2) Once measured we can then get a true valuation of LNY calculating the the processing agreement with Maroon, recall it's nothing for LNY if it's under 3.4g/t.
3) The Coal project is a dead duck, no value in this based on the inferred strip rates, and the greenies will never let it happen, same for the NZ project.

So what you have is LNY saying they have seen a lot of surface gold, but we can't tell you exactly how much there is, and how deep it is yet, and we can't tell you if it is going to make any money yet.

Don't get me wrong, I'm in based on the results so far and IMO it would be a major geological anomaly not to convert the current drilling into at least 7 -8g/t across the site.

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if LNY came out with a $3mil accelerated drill plan to a reasonable depth, this stock would fly.

It would also give comfort to the market that no spend on non-core assets (Ashford & NZ), will take place in the near future.

LNY Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
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