As i have mentioned in the past i have some close contacts who have stated that NO capital raising will take place this year. Their overheads are quite low and exploration drilling expenses arent all that high. Costs incurred include the leasing costs of drilling equipment, geoligist and field crew wages and assay sample lab costs. I understand that once a more definitive resource is established through extensive dilling a raising will take place - most likely Feb to Mar 2010 i have been told.
I'm excited to have a 500k Oz Jorc resource to kickstart this project, anything over and above is incredible for a company of this size. Still can not comprehend that the share price is at 2.7c with the resource potential of this company.
Gold is tipped by many to be as high as USD$1500 per Oz in the coming 12months - this leaves Laguna in a very lucrative position..
LRC Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
