bend over....., page-3

meerkat,

I think you are in the wrong game if you want fair! The stock market is a lot of thing but fair is not one that springs to mind.

There's no doubt the NMDC is getting a sweet deal and there's no chance in hell they are coming into LCY out of the goodness of their hearts simply to help us. Seriously though what do you expect? Businesses in general aren't established by giving everyone a fair go, to be successful in many businesses you have to be utterly ruthless. Fact is LCY are using the NMDC and vice versa. I do agree the NMDC is getting the better end of the deal but then they are not a junior explorer who has very little cash.

Big investors like the NMDC stump big money and as such expect a lot for their money but if you don't think they bring a lot to the table I really don't know what it would take to please you.

To me it seems like your idea of a simple capital raising and an offtake achieving the same thing is just laughable, I would not feel as confident making it all the way to production off that alone. I'm sure if it were that clear cut management would have gone that route. Not to mention the fact you'd probably be complaining about something in the capital raising be it too much dilution, too cheap, the underwriter getting too much of a sweet deal, some people are just never happy.

Anyway you are entitled to your opinion and to vote no to the deal or perhaps consider selling up if you really don't like it.

Who knows you may be right in the long run and bringing the NMDC will prove a bad move, then again it may prove to be right. All we can all do is make our own decisions and hope that when it's all said and done we made the right one.

Good luck with whatever you choose.