Hi WIChrissyI have been a excited about LRV a few times over the...

Hi WIChrissy

I have been a excited about LRV a few times over the last 2-3 years, sadly that excitement seems to have an inverse relationship to share price. In saying that I have once again got optimistic for the next 12 months.

Last week I went along to RIU conference last week, below are my take-aways after chatting to the lads, in no particular order:
- No one at LRV reads anything on HotCopper, and to an extent I don't blame them, who wants to be told they are pathetic daily?
- Both Mark and Ron are holders as well as their family members also holding and have since IPO. Leading me to think that there is a plan to grow value otherwise they would have whispered something to their family members to get out prior to the Hillgrove Acq (1.6c).
- Further details and analysis on the Tailings are imminent, however this wont be the golden goose egg. My take was that there will be gold, tungsten and other mystery commodities, but the real benefit is to stop environmental impacts of having these heavy elements seep into the surrounding environment. The NSW Gov is very supportive of this tidy up.
- Level of frustration with the ASX regarding the cap raise as the raise was structured somewhat differently until the raise was lodged with the ASX. also meant that the stock was in suspension for days and couldn't ride the write-up the weekend prior.
- Ron in my opinion is a bit of a dinosaur, in no rush at all and to be host had abit of ego about himself - has an issue with a particular drilling contractor because they wanted to drill 24/7... thought drilling at night would be dangerous. Mark had a underground drilling (no natural light underground) understanding so grimaced. Also said it would be 2.5x more costly to have the the drill turning 24/7 (didn't get that the program would be finished in a shorter timeframe...). Hey, maybe it would I'm no expert but, doesn't pass the pub test to me.
- They believe production is 100% possible within 18 months - would need additional capital, likely opt for a loan as opposed to additional equity. Will that be possible? Time will tell.
- The NZ site is shit - paraphrasing.
- Something that will be a huge shock to everyone is that the focus is on Hillgrove . There isn't any point in the rest of the locations due to market sentiment as well as the fact it has been pissing down with rain near Isa.

At anything under 10c I do think this is a good buy, but I'll be out at ~20c/ $40m MC.

I hope this can be somewhat of a useful summary for holders - apologies for not spruiking LRV but that was my honest take away.

Regards,
24/7 Pratta