Using a value of 1.74% of the gold in ground value as per SOL...

Using a value of 1.74% of the gold in ground value as per SOL Gold Valuation I previously conducted LCL should be trading at somewhere between 25 and 35 c per share but that is a monster so a discount down to 20 is quite reasonable in my opinion if we just take the 2 to 3 MOz back of the envelope calculations being floated around. Take this out to to 5MOz which isn't unrealistic LCL would be a $0.60/share. Note the table below assumes all options and rights issues are exercised for a fully diluted value from 40c/share. There may be some numbers that need changing as there have been a couple of Option issues I haven't updated but will attempt to get these done over the next few days which would drop the target price down a few pips but still nothing to be sneezing at. Can't see a raising yet. See company organising a underwriting of options in the money happening firstly to get in a easy $11.0M and anything above 32c/share gets us $15m which would be ample to really make swiss cheese of this monster to see what lies underneath them hills in Columbia. We can only dream about 30MOz...

	Price	MC	MC - Dliuted	1	2	3	5	10	15	20	30
1	0.03	$9,684,181.0	$13,121,865.2	0.42%	0.21%	0.14%	0.08%	0.04%	0.04%	0.02%	0.01%
2	0.035	$11,298,211.1	$15,308,842.7	0.49%	0.25%	0.16%	0.10%	0.05%	0.05%	0.02%	0.02%
3	0.04	$12,912,241.3	$17,495,820.3	0.56%	0.28%	0.19%	0.11%	0.06%	0.06%	0.03%	0.02%
4	0.045	$14,526,271.4	$19,682,797.8	0.63%	0.32%	0.21%	0.13%	0.06%	0.06%	0.03%	0.02%
5	0.05	$16,140,301.6	$21,869,775.4	0.70%	0.35%	0.23%	0.14%	0.07%	0.07%	0.04%	0.02%
6	0.056	$18,077,137.8	$24,494,148.4	0.79%	0.39%	0.26%	0.16%	0.08%	0.08%	0.04%	0.03%
7	0.06	$19,368,361.9	$26,243,730.4	0.84%	0.42%	0.28%	0.17%	0.08%	0.08%	0.04%	0.03%
8	0.065	$20,982,392.1	$28,430,708.0	0.91%	0.46%	0.30%	0.18%	0.09%	0.09%	0.05%	0.03%
9	0.07	$22,596,422.2	$30,617,685.5	0.98%	0.49%	0.33%	0.20%	0.10%	0.10%	0.05%	0.03%
10	0.076	$24,533,258.4	$33,242,058.5	1.07%	0.53%	0.36%	0.21%	0.11%	0.11%	0.05%	0.04%
11	0.08	$25,824,482.6	$34,991,640.6	1.12%	0.56%	0.37%	0.22%	0.11%	0.11%	0.06%	0.04%
12	0.085	$27,438,512.7	$37,178,618.1	1.19%	0.60%	0.40%	0.24%	0.12%	0.12%	0.06%	0.04%
13	0.09	$29,052,542.9	$39,365,595.6	1.26%	0.63%	0.42%	0.25%	0.13%	0.13%	0.06%	0.04%
14	0.095	$30,666,573.0	$41,552,573.2	1.33%	0.67%	0.44%	0.27%	0.13%	0.13%	0.07%	0.04%
15	0.1	$32,280,603.2	$43,739,550.7	1.40%	0.70%	0.47%	0.28%	0.14%	0.14%	0.07%	0.05%
16	0.15	$48,420,904.8	$65,609,326.1	2.11%	1.05%	0.70%	0.42%	0.21%	0.21%	0.11%	0.07%
17	0.165	$53,262,995.3	$72,170,258.7	2.32%	1.16%	0.77%	0.46%	0.23%	0.23%	0.12%	0.08%
18	0.2	$64,561,206.4	$87,479,101.4	2.81%	1.40%	0.94%	0.56%	0.28%	0.28%	0.14%	0.09%
19	0.25	$80,701,508.0	$109,348,876.8	3.51%	1.75%	1.17%	0.70%	0.35%	0.35%	0.18%	0.12%
20	0.3	$96,841,809.6	$131,218,652.1	4.21%	2.11%	1.40%	0.84%	0.42%	0.42%	0.21%	0.14%
21	0.35	$112,982,111.2	$153,088,427.5	4.91%	2.46%	1.64%	0.98%	0.49%	0.49%	0.25%	0.16%
22	0.4	$129,122,412.8	$174,958,202.8	5.61%	2.81%	1.87%	1.12%	0.56%	0.56%	0.28%	0.19%
23	0.45	$145,262,714.4	$196,827,978.2		4.28%	2.85%	1.71%	0.86%	0.57%	0.43%	0.29%
24	0.5	$161,403,016.0	$218,697,753.5		3.51%	3.17%	1.40%	0.70%	0.95%	0.35%	0.32%
25	0.55	$177,543,317.6	$240,567,528.9		3.86%	3.49%	1.54%	0.77%	1.05%	0.39%	0.35%
26	0.6	$193,683,619.2	$262,437,304.2		4.21%	3.80%	1.68%	0.84%	1.14%	0.42%	0.38%
27	0.65	$209,823,920.8	$284,307,079.6		4.56%	4.12%	1.82%	0.91%	1.24%	0.46%	0.41%
28	0.7	$225,964,222.4	$306,176,854.9		4.91%	4.44%	1.96%	0.98%	1.33%	0.49%	0.44%
29	0.75	$242,104,524.0	$328,046,630.3			4.75%	2.11%	1.05%	1.43%	0.53%	0.48%
30	0.8	$258,244,825.6	$349,916,405.6			5.07%	2.25%	1.12%	1.52%	0.56%	0.51%
31	0.85	$274,385,127.2	$371,786,181.0				2.39%	1.19%	1.62%	0.60%	0.54%
32	0.9	$290,525,428.8	$393,655,956.3				2.53%	1.26%	1.71%	0.63%	0.57%
33	0.95	$306,665,730.4	$415,525,731.7				2.67%	1.33%	1.81%	0.67%	0.60%
34	1	$322,806,032.0	$437,395,507.0				2.81%	1.40%	1.90%	0.70%	0.63%
35	1.05	$338,946,333.6	$459,265,282.4				2.95%	1.47%	2.00%	0.74%	0.67%
36	1.1	$355,086,635.2	$481,135,057.7				3.09%	1.54%	2.09%	0.77%	0.70%
37	1.15	$371,226,936.8	$503,004,833.1				3.23%	1.61%	2.19%	0.81%	0.73%
38	1.2	$387,367,238.4	$524,874,608.4				3.37%	1.68%	2.28%	0.84%	0.76%
39	1.25	$403,507,540.0	$546,744,383.8				3.51%	1.75%	2.38%	0.88%	0.79%
40	1.3	$419,647,841.6	$568,614,159.1				3.65%	1.82%	2.47%	0.91%	0.82%
41	1.35	$435,788,143.2	$590,483,934.5				3.79%	1.89%	2.57%	0.95%	0.86%
42	1.4	$451,928,444.8	$612,353,709.8				3.93%	1.96%	2.66%	0.98%	0.89%
43	1.45	$468,068,746.4	$634,223,485.2				4.07%	2.04%	2.76%	1.02%	0.92%
44	1.5	$484,209,048.0	$656,093,260.5				4.21%	2.11%	2.85%	1.05%	0.95%
45	1.55	$500,349,349.6	$677,963,035.9				4.35%	2.18%	2.95%	1.09%	0.98%
46	1.6	$516,489,651.2	$699,832,811.2				4.49%	2.25%	3.04%	1.12%	1.01%
47	1.65	$532,629,952.8	$721,702,586.6				4.63%	2.32%	3.14%	1.16%	1.05%
48	1.7	$548,770,254.4	$743,572,361.9				4.77%	2.39%	3.23%	1.19%	1.08%
49	1.75	$564,910,556.0	$765,442,137.3				4.91%	2.46%	3.33%	1.23%	1.11%
50	1.8	$581,050,857.6	$787,311,912.6				5.05%	2.53%	3.42%	1.26%	1.14%
51	1.85	$597,191,159.2	$809,181,688.0					2.60%	3.52%	1.30%	1.17%
52	1.9	$613,331,460.8	$831,051,463.3					2.67%	3.61%	1.33%	1.20%
53	1.95	$629,471,762.4	$852,921,238.7					2.74%	3.71%	1.37%	1.24%
54	2	$645,612,064.0	$874,791,014.0					2.81%	3.80%	1.40%	1.27%
55	2.05	$661,752,365.6	$896,660,789.4					2.88%	3.90%	1.44%	1.30%
56	2.1	$677,892,667.2	$918,530,564.7					2.95%	3.99%	1.47%	1.33%
57	2.15	$694,032,968.8	$940,400,340.1					3.02%	4.09%	1.51%	1.36%
58	2.2	$710,173,270.4	$962,270,115.4					3.09%	4.18%	1.54%	1.39%
59	2.25	$726,313,572.0	$984,139,890.8					3.16%	4.28%	1.58%	1.43%
60	2.3	$742,453,873.6	$1,006,009,666.1					3.23%	4.37%	1.61%	1.46%
61	2.35	$758,594,175.2	$1,027,879,441.5					3.30%	4.47%	1.65%	1.49%
62	2.4	$774,734,476.8	$1,049,749,216.8					3.37%	4.56%	1.68%	1.52%
63	2.45	$790,874,778.4	$1,071,618,992.2					3.44%	4.66%	1.72%	1.55%
64	2.5	$807,015,080.0	$1,093,488,767.5					3.51%	4.75%	1.75%	1.58%
65	2.55	$823,155,381.6	$1,115,358,542.9					3.58%	4.85%	1.79%	1.62%
66	2.6	$839,295,683.2	$1,137,228,318.2					3.65%	4.94%	1.82%	1.65%
67	2.65	$855,435,984.8	$1,159,098,093.6					3.72%	5.04%	1.86%	1.68%
68	2.7	$871,576,286.4	$1,180,967,868.9					3.79%	5.13%	1.89%	1.71%
69	2.75	$887,716,588.0	$1,202,837,644.3					3.86%	5.23%	1.93%	1.74%
70	2.8	$903,856,889.6	$1,224,707,419.6					3.93%	5.32%	1.96%	1.77%
71	2.85	$919,997,191.2	$1,246,577,195.0					4.00%	5.42%	2.00%	1.81%
72	2.9	$936,137,492.8	$1,268,446,970.3					4.07%	5.51%	2.04%	1.84%
73	2.95	$952,277,794.4	$1,290,316,745.7					4.14%	5.61%	2.07%	1.87%
74	3	$968,418,096.0	$1,312,186,521.0					4.21%	5.71%	2.11%	1.90%