Ann: Quarterly Activities Report, page-118

Thanks Docmin.
Re why is the SP so low? My thoughts on this?
I really have no definite idea but I suspect it harks back to SBs ongoing strategy of slowly building LNY like a self-funding small business and retaining as much ownership as possible rather than speeding the process with JVPs and/or CRs. Based on my comparisons with other similar size ASX listed Junior Gold companies the SP should clearly be closer to 10 cents than 1 cent.

On the positive side - this has resulted in less dilution and ultimately more value per share for the shareholder.
On the negative side - retail shareholders wanting things to happen faster to realise a capital gain become disgruntled and start complaining = bad publicity for the company.The disgruntled retail SHs create a negative perception reducing share prices.Larger SHs with a longer term view buy up the shares.

As I see it there will be holdups to SP rising significantly in the near term.
Unfortunately we need to know how much gold we actually have at Agate Creek before we can draw up the plans to build our onsite processing plant. As a result IMO even if we gather sufficient funds to build our processing plant, 3rd party gold processing will still continue for some time until the drilling is completed, gold quantum is known and then the processing plant is planned, constructed and commissioned.

If the weather allows, I am expecting a shift in SP sentiment early next year when the expected recovered gold is accruing as 'cash in the bank' and more importantly drilling assay results from NZ and Agate Creek are made public and blueprint plans for the processing plant can then get underway.

IMO this will pique the interest of Institutional investors and take LNY to the next level. As you know institutional investors tend to buy up big, which IMO should push the SP up to where it should be.
As always please DYOR...