sour grapes

Just have to post on the sour grapes of some people!

Is it jealousy? Envy?

I mean there are hundreds of companies on the stock exchange that own diddlysquat and will NEVER mine a shovel of dirt, yet people come and bag poor LRC.

They have been accused of suddenly pulling this gold project out of the hat just when gold hits $1040 ... How ridiculous! The project was acquired mid-year, they have since done a number of investor presentations, so people have been watching this puppy.

As for Monday's announcement. We have been waiting for the exploration mentioned to be announced, they have ALREADY advised that it would be happening in 2009 ... all we needed was the date and a few details which they provided. All expected news.

Claims of a pump & dump are ridiculous. A few of us have been waiting for LRC to move for some time. Matthew Wood, Nick Lindsay, and the Steinepreis brothers are smart cookies, and they have a massive vested interest in LRC being re-rated. For me they were the drawcard. I am sure there are many other people who have been watching LRC because of them

As for the project itself. Whether it is ever mined by them or not is immaterial to me. But I can say with certainty that the Arqueros project is a hundred times better than the projects of dozens of other ASX-listed stocks, many trading at much higher prices than LRC. It is in a genuine gold mining district, is brownfields, and has significant potential.

Its a spec, it could well flop, but smart operators are involved, indicating that there are profits available for investors. I originally bought into SPP based on the original breakout from its accumulation phase back in early/mid August. That and the Steinepreis connection prompted me to buy. The gold project was additional to that.

Where it goes from here I dont know, but I am pretty sure it wont be gong back below 1.3 cents which is my average!

;)