lsg - set for much higher levels

This stock is set to move higher on very encouraging news from EAGM and on the news that MPI will list on the stock exchange in Jan 03. The MPI investment is also at cost and is set to be re-rated at market values. A quick summary of MPI as I have not written much about them but quite a bit on EAGM:

- MPI owns 80% of the Black Swan nickel mine
- It is a gold producer - from the Stawell Gold Mine
- Is in a JV deal with Herald Resources (HER) to mine at the Coolgardie project in WA.

LSG won't be this cheap for long IMO

Some key points about LSG as things stand today (taken from today's Activities Report):

EAGM: Exploration drilling confirmed Gokona as a high grade new discovery capable of significantly re-rating this cornpany's valuation. Lion's $10.2 million historical cost is expected to deliver a significant multiple gain to LSG shareholders.

GGN: A development decision on a new 100,000 oz pa gold mine at Mupane in Botswana is expected early 2003.

WEZ:A development decision on a new 70,000 oz pa gold mine in Western Australia is expected early 2003.

SED: Development of the Cracow gold mine (SED 30%) in Queensland is imminent

IRN: Ownership of Tampakan, the giant copper-gold project in the Philippines, achieved in August.

MPI:Exceptional nickel results from Silver Swan in WA (MPl 80%)