re:look out below?-hardly;eagm result Probably a poor call mal,...

re:look out below?-hardly;eagm result Probably a poor call mal, as you probably are not too familiar with the company or its assets. These include large stakes in a bunch of very promising juniors, including MPM, WEZ, LAF, IRN, GGN, RBK, IGO..., to name a few. In total 15 listed investments.

However, the jewel in the crown in definitively EAGM. LSG stake in this company is probably worth more than its total market cap atm. EAGM is still stated at cost (10M) in LSG's books until it decides to list (IPO), enabling LSG to value its stake at market prices.

The EAGM march quarterly report, which came out today, was a solid one, with costs slightly below budgeted levels. EAGM realised US$323/oz for its output (about 44,000 ounces).

The Dett East prospect produced some nice intercepts, including 19m @ 2.3 grams per tonne, 5m @ 9.8gpt, 17m @ 2.2gpt and 26m @ 2.4gpt.

EAGM has also identified further priority targets on the Mara shear zone and a 12,000m RAB program is set to begin next month.

The ASX IPO is certain now NOT to go ahead.

LSG shareholders must be glad to know that they have a 11% stake in a fantastic asset (also 6% indirectly though African Lion) and one which will not be negatively affected by rises in the AUD.

Robin Widdup, MD of LSG, suggested EAGM could be worth up to $1 billion on the Toronto Stock Exchange.
Details of the plans to list there (or the NYSE) should be announced by year end.

LSG's market cap at present is $140M

I hold LSG