Vaughan stated he wouldnt be taking any further enquiries??
That's all well and good - update the market... Release a progress announcement. The Last Agate creek update was at the start of the year - apart from the qrtly and Noosa conference...
Remove the need for holders to call by keeping them in the loop. Advise the market that there are delays in the negotiations and that it will likely go into mediation or court.
All feels a little underhanded here - the people that keep the company afloat are kept in the dark while management achieve nothing of value. My opinion still stands - these negotiations should have been in the pipeline from day dot, before millions of dollars were spent proving up this seemingly undiggable resource.
Disappointed in the lack of communication and ground that mgmt have mustered. Perhaps time for a kick up the a$$. A strongly worded email around transparency to Vaughan or Bizzell might be necessary. Still no news on Coromandel either - they have been at it for a good while now - surely something material has presented and should be reported. Where the hell is this company at with anything?? Anyone's guess because they do not see value in reporting to the market or they see value in not reporting to the market. Either way, no one knows where things are at. It's the blind leading the blind as far as we shareholders are concerned.
The company knows if there has been any progression for better or worse. They are choosing to keep the market in the dark and I dont think this is particularly positive. My feeling is that Agate creek isn't going to proceed or if it does, it will be 2-3 years down the track..
I am emailing our peanut management, if I don't like the response, I will sell at 3, take my 1 pip loss and move on.
LNY Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
