This says it all from that 2011 HAW announcement...
"NMDC currently has cash reserves in excess of US$4 billion, and has additional lines of credit from banking syndicates,including Citibank, which are available for the purchase and financing of resource projects."
At LCY, pre buy out from NMDC, this was touted adnauseum but what did they do.....the opposite. They diluted the share pool to the point the stock dropped from nearly $0.08 to $0.005 and literally stayed there for 10 years (still not much better IMO). As Happy shared with us, you only have to do the math.....
NMDC owning 90.05% ( 5,767,253,980) of the issued shares ( 6,406,826,199) = No power for retail holders.
We're getting the same treatment we've always got (and commensurate to the power we hold), treated like mushrooms (kept in the dark and fed crap). They only tell us the bare minimum because they'd incriminate themselves if they didn't.
Regarding the HAW consolidation, I got stitched then big time and suspect the same will happen with LCY. That, or we will end up like the retail holders over at Atlas after Gina weaved here magic.
If we were valued, we wouldn't be mislead, we'd be getting the announcements, there would be a clearer path to market after 10 years prospecting this apparently loaded site, there would be clearer/transparent strategic relationships trying to build transport routes to port. I could go on all day but surely we can all see this for what it is........
LCY Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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