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Potential ML - LNY, page-170

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Romann

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20/07/16

19:33

Post #: 18320817
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Originally posted by Romann ↑

Should have NZ results coming back shortly.

ML is anyone's guess - They were having some issues negotiating a deal with the native title counter parties which has held up the granting I believe (this is the resounding risk factor). Apparently previous advice from the company is that we are on track for it to be granted before the end of the month but not sure if the stops have been pulled.

I started looking into this today having topped up in further hope and this is what I think may form part of the issue... Obviously you will have to excuse me, it isnt easy to find stuff around the negotiations, most of this is speculation - The native title holders around Agate creek are the Ewamian People #2 - if you take a little time to research this stuff - recent history shows that the mining leases granted in the area are typically smaller patches of ground... nearest one of a similar size is in Kidston, and of course around Georgetown. I am thinking there is some reluctance coming from the Ewamian people given the sheer size of the ML application area in an otherwise relatively untouched zone? Perhaps they are asking to scale back? Or they want more of a cut? or its not about money at or size at all, in which case we're fecked as far as Agate creek is concerned....

It would be slightly frustrating from mgmt's point of view given the lengths of exploration done, time and money spent. however it begs the question, if the counter parties had no intention of allowing the mine, then why didn't they quash the whole game before LNY turned the area into swiss cheese defining the resource.. it doesn't make sense or should LNY potentially have began negotiating with the NTHs alot earlier?

Anyway Lets hope they come to an agreement quick. I don't know if there is spiritual or sentimental value in the area however from a practical perspective, it seems like a very harsh landscape with not much on offer which could turn into considerable income stream at the cost of a hole in the ground for the Ewamian People and many others to benefit from for years to come. Guess time will tell.

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Actually I dont know when NZ full results are coming out - market seems to be expecting an update probably some prelim results however my understanding is that drilling etc will continue for the remainder of the year.

LNY Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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Potential ML - LNY, page-170

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

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Potential ML - LNY, page-170

Top Stories

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