You sure know how to cast aspersions but in the process appearing very contradictory.
"Well it looks like the the barrage of negative posts from a vocal minority has probably contributed in pushing the price further down for the LTH and mums and dads. Are the ones saying they are trying to protect the mums and dads happy?!" Excuse me if I am wrong, but what's with all the pretense? I would have thought LTH who intend being in for the haul would consider the volatility in the SP irrelevant to them... unless, of course, they intended selling in the short-term at a higher price to the current? At least Towie makes it appear that he is in LNY until Bizzell intends selling the company and at least expresses some disdain for the board's performance. At the end of the day, isn't that what next week's AGM is going to be all about, Rhazzle? Really the ousting of two existing directors is not going to achieve much when they are Bizz's bed fellas anyway.
Bizzell is who controls this company... hook line and sinker. PW is, afterall, Bizzell's partner!
As for wanting a higher SP... that's purely Bizzell's responsibility but clearly he is not at all concerned about the SP. Its simply immaterial and irrelevant to him when he has no intention of selling. The volatility is not brought about by a few willing to vent their frustrations. Just have a look at last year's chart. I wasn't even a holder of LNY or a regular poster on the forum til late last year. The SP was already heading for the gurgler. I got trapped buying at 7. Tthe broker boys tried to knock sense into me... one in a very nasty way which just made more determined not to sell... which I could have done and bought back in cheaper. But anyway, my intention in highlighting the flaws in this company was not to exacerbate the volatility at all but express my disdain with the way the company is run and what appears to be going on in the background. I wasn't aware of all of the dirt until I really delved deeper recently. My rants help me understand how the status quo works here and with other companies and HC forums.
For Bizzell to state in his presentation at the Noosa Mining Conference that
LNY made a profit last year of $1.5 million (or whatever it was) in such a matter-of-fact way given that LNY
Maroon processed $32 million worth of Agate Creek gold is simply horrifying, IMO. You can pretend that a couple of drilling campaigns and company expenses paid for the year without dilution is wonderful, Rhazz, but the market will never. And, to conceal these type of facts and trap poor unsuspecting retail investors in a stock like this is just unethical.
I really want the SP to go up so that the likes of Docmin and others who are frustrated with the performance of this managagement team can at least off load some shares. I sold at no profit last week and am keeping a piddly amount just in case Bizzell surprises the hell out of the market with low cost of production figures or the acquisition of a plant for onsite processing, or whatever. Whether I will buy again if the SP drops as low as last year I don't know at this stage... I'm inclined to not want to. I don't condone down or upramping of stocks. Being passionate about your investment and being trapped by one's own confirmation bias is one thing but to ramp for the sake of trying to entice others to buy or sell is not my thing... quite the contrary... and I take offense at that accusation.
Anyway, HC is what is, Rhazzle, an opinion-based stock forum. Positive, negative and contrarian views are going to be expressed by holders and non-holders, ST and LT holders and opinions judged and disagreements posted. And, no company is beyond reproach... and as a LTH of this one, you need to be prepared for that to be the case. LNY is not being run like the way it should be... as a publicly-listed ASX company and that is because Bizzell runs it like he is a law unto himself. I can understand that he feels that this company "owes" him since he rescued Renison from its demise with a stack of his own money... but LNY is not a private company and I feel that the majority of SH are bearing the brunt of him being denied the opportunistic desire to seize a majority stake holding in the company by the Takeovers Board in 2013.
AIMHO
(20min delay)