Based on the Ballarat and Equigold purchases, they're looking for multi-million ounce resources/reserves, either in production or close to it, with below average cash costs of production.
Looking at the profiles of the above two purchases, compared with the plethora of potential options available to them at the times of purchase, I get the feeling the lower cost per ounce of production is their most important criterion.
(Of course, an operation of their size is not going to muck around with companies of less than a few million oz potential.)
LGL Price at posting:
$1.66 Sentiment: Buy Disclosure: Held
