I suggest everyone reads Samcharlotte77 post above. It appears all you people are wrong raving on about LNR owning the lease. Firstly LNR have to get heritage clearance, then they anticipate drilling in August if all clearances come to pass, so long way to go .Normally things don't go to plan do expect delays. But hang on , LNR have to spend $10m on exploration to earn in a 50% stake in early grey lease.
So all you guys thinking easy money think again, puspus said the day before the CR the rug will be pulled, and that appears exactly what happened.
Well Samcharlotte77, seems your post is correct and a true dose of reality here, at present seems LNR do not own earl grey lease and IF LNR spend $10m on exploration then they will have 50% only. If what you say Samcharlotte77 is correct and that appears so given the initial announcement, then this play is a nice cash cow here for INYATI CAPITAL and LNR directors only it seems, but really not so much for LNR shareholders at all . Wakey wakey.
LNR Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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