Potential ML - LNY, page-226

I was holding a few KBL - its a nice turn around story but I dont think it will have the legs. Problem being the resources are not stacking up - at least not to sustain a long term operation out of Mineral hill - Pearce has about 6 months left in it, Pearce north has an inferred resource of 298kt at 2.5g per tonne AU + 21g per tonne AG... The reserve is less than 15000oz contained gold. Sorby is miles off being developed. The underground stuff is also pretty far from being developed and requires a fair bit more work before they can prove it up and develop it.

I reckon it is undervalued but they need to make a bigger discovery to really kick things off IMO. I offloaded today at a loss on it - not because I didn't believe I would get any return, just needed the capital. Unexpected expenses - YAY!