LTL, what a waste of time posting that piece of history. As usual looking in the rear mirror.
The company has obviously been looking forward and has clearly moved on from the period that article refers to, being pre 31 December 2014.
Yes certainly a lot more work to be carried out, but AL and the team have made excellent progress to date, and we can expect this will continue.
There is certainly more positive news being released about the company since last December.
AL has advised she has been in Europe talking with potential new customers which we assume is to allow LYC to operate at higher levels of production and sales thus allowing opportunity for increasing revenues and reducing COP.
I am looking forward to the announcement of re structure of finances which we would expect well before director sign off on 30 June 2015 annual financials. A positive financial reschedule of debt aligned with future cash flows together with the improved production and revenue number in last quarter should give EY comfort that LYC is beyond the GC risk and hopefully EY will issue a clean audit report.
LYC Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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