In this end of the market... the micro-cap, the explorer, the speccie end of town... valuations are highly questionable and more often than not influenced by the ramping "pumpers and dumpers". We only need to look at who were involved in that to know why the SP took a whack!
There are outright rampers (with the agenda of getting the SP up with the intention of getting out at some point and not being a long term holder) and those who are influenced by it but stay in happy to live in the dream that they believe will never come to an end. It is what is... the "rinse and repeat cycle" rampant throughout HC.
Now, what should be taken into account is that LNY has more than just one gold tenement, so any evaluations done by passing posters on Agate Creek in context of SP is not taking into account LNY's other assets.
I believe the state of the SP is due to a combination of issues. The ramping and hype that invariably comes to an end (before it resumes again) is one reason. The other reason is that mining has ceased (but most knew that this would impact the SP). That leads to what has to be a legitimate gripe against the BoD and that is the lack of communication and PR on their part. Hey, check the latter fact out in context of BSM. But, then again, what came first, the chicken or the egg? Certainly, good PR would not go astray and would help the SP... perhaps even minimise the inherent volatily.
I can't vouch for the valuations being thrown around here without putting the time in to thoroughly digest, so dare not judge on those grounds. All I do know is that communication is not this company or BSM's best attribute and should be taken to task over. We will be destined to be "mushrooms" forever without a strong message being sent to the board and management on the subject. However, maybe that is their MO... disclose the facts in black and white and hope the minions see the clues... if not, it's not their problem. Its up to one to DYOR... LOL
LNY Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
