proposed $16.5m capital raise, page-52

Hi Tripster

The current price of the stock clearly reflects a significantly increased risk perception and a lack of certainty.

It's not about sending good money after bad but rather whether the issue (buy) price is low enough to more than cover the risk.

Risk always sits side by side with upside opportunity, and we should note that even pretty low grades can be profitable at current gold prices. The marginal cutoff for this mine is I recall is in the vicinity of 3 to 3.5 g/t. and LGL, historically, did better than this.

cheers