News: LCY Legacy Iron Ore Says Renounceable Entitlement Offer To Raise Up To A$21.36 Million, page-7

Maybe it’s a bit rash but I didn’t appreciate the after hours, last day of reporting to find out the company had no money. Then an abrupt cap raise with little explanation other than ‘exploration’

I also don’t appreciate the lack of guidance and updates on what quantities of gold actually being dug out and details of my Celia. Especially when they just blew what was 8 quarters of funding as per the last update.

For that reason I sold 70% today. Will hold the rest as I like the Mt Bevan story, but wonder what how capable the management team are at this point.

I also wonder if a 90% shareholder and Rinehart combined will offer a fair future for the minority 10% retail holders when the company starts to bear its fruits. Will this be compulsory acquired and folded in just before things get moving.

For that reason kept my toe in for upside, but pulled out funds of value to deploy elsewhere.

mixed feelings for LCY