Hi Guys, I bought into LRC a while back and am still underwater. I read followme's summary over the long weekend and was excited to see it open above 2 cents (clower to where i bought in at!) but it didn't make it (in fact I was going to take up a lot more soon after the open on Monday but fortunately didn't!).
My reading of this company based on Arqueros is that actually its a silver play rather than gold based on current resources (notwithstanding that silver price as a general rule follows gold price) - having read all the announcements from LRC on it can you give me any more insight to suggest that the drilling results will be anything more than the past in terms of gold grades versus silver grades - is it the fact that management have suggested they are concentrating on the higher gold rich zones within the mineralised system as it is currently known.
(As an aside I met Nick Lindsay some years back when he came over to Perth from S America to work for Iscor, he seems an honest sort of guy, not sure how practical - a bit more of a conceptualist I would assume from my discussion with him - which isn't a bad thing. The reason I bought the shares was both the fact LRC is lowly capitalised at around current prices, and at least I feel ocnfident he isn't going to dud the shareholders and he has got a BIG equity in this to motivate him).
Any views on the drilling expectations would be appreciated.
LRC Price at posting:
$2.25 Sentiment: Hold Disclosure: Held