General Day to Day Banter, page-483

Hi @Aqua65

Thanks for having brought LCL to my attention.

Despite being a geology ignoramus, I bought in this week for the first time because:
* the NPV8% for Miraflores alone is about USD 150m at the current POG, say AUD 200m
* the EV at 13 cents is only about AUD 62m (MV minus $20m cash)
* so the market is placing a negative value on Tesorito South and all other prospects
* Dr Fu's discovery track record
* Dr Fu's own holding
* recent institutional buys at 16c
* recent Chairman buy at 16c
* the TIE CEO was holding 3m (when the T20 cutoff was that low)
* I'm sick of buying sure things, felt like a gamble.

GLTAH.