i.o. neighbour shows the way

Yesterday's report from iron ore mining neighbour JMS indicates what we can expect from LCY.

Initial Haematite DSO to provide the cash to get up & running on the very large Magnetite mine.

Rail at Menzies to an upgraded Port Esperance.

http://imagesignal.comsec.com.au/asxdata/20110512/pdf/01179967.pdf

Current market cap for JMS is $733 mill.

Current market cap for LCY is $23 mill.

With initial drilling now complete & a report from the company which indicates the similarities with the JMS projwct, (but with anticipated larger magnetite reserves) LCY moves to a JORC compliant status.

For investors with investor patience it looks as though a return of some multiples of the current price will occur and some of this quite soon.

For traders there's going to be plenty of action.

We had a setback 12 months ago with the ill conceived proposed resources super profits tax, ... which is now much watered down.

LCY has other projects which are attracting overseas customer/investor interest & these may prove to be stunners too but as we're talking big dollars & the o'seas customers have other miners output & JVs to consider it is too early to begin counting on success in those projects.

We are on a winner at Mt Bevan & our patience is being rewarded. Holders of HAW should do well too.

LCY options LCYOB, LCYOA, LCYO may be worth considering for greater profits. (doubling of investment in fairly quick time)

>>>> DYOR <<<<<