SVG 0.00% 3.6¢ savannah goldfields limited

It is difficult to say that LNY has been promoting itself in the...

  1. 22,424 Posts.
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    It is difficult to say that LNY has been promoting itself in the past few announcements; on the contrary, it has been doing the opposite:
    -minimal up to date info released ( the 2220 ozs AU production was known as far back as mid April)
    -director selling
    -cut & paste from past anns obscuring recent achievements
    -re-iteration of Agate Creek revenue being used in coal & NZ tenements ( a big negative for gold bugs)
    -no up to date info on current drill program

    This is a Claytons down-ramp by LNY rather that promotion, IMO.

    If this were to be a normal emerging gold miner it would be out there with the megaphone:
    -2220 ozs in first few weeks of processing (1020 ozs LNY's share) is no mean fete- this represents a gross mgn of 46% which is much better than most established AU miners)

    IMO, LNY is lying doggo until the current processing deal is completed and then we'll have a detailed mine plan for Agate Creek whether that be
    a continuation but better deal with the processor or a go it alone processing plant deal. The current processing deal is only economically viable down to 5 g/t, IMO. ( 3.5 G/T to processor)
    5g/t for open pit mining with 3-4 meters overburden is , in other circumstances, a very rich grade indeed, IMO. There are plenty of disused plants around the country that could be picked up and relocated for a song, again IMO.
 
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