timing of ann, page-32

Quote from Bigstock:

I would like to know why we were the lucky company??? Was it because Mt Bev impressed nmdc so much???

Good questions mate so I thought I have a cracker at answering it.

The question we need to ask ourselves is whether Mt Bevan was the driver or the key element in here?

Personally, I don't think so.

Why?
Because if it was, NMDC would have gone straight to HAW, done the deal with them and offered us (LCY) a payment to cancel the JV.

They knew that we were cash poor so we would have jumped on the offer and probably thanked them for it.

But that did not happen.
NMDC did not go to HAW or MAK or anyone else.

I'm quite sure that it's Sharon who persuaded NMDC to invest in us.

We went from euphoria to disbelief when the deal was finally done at $19M.
We all laid crap on the management for allowing this deal to take place at such low amount and even worse, without a proper explanation of any future benefits.

Well, the judgement day is nearly here.
The cards (although still not all) have been laid out on the table and we can finally see how ballsy and forward thinking Sharon was to do such innovative deal.
It's not often that a tiny Co the size of LCY manages to do a deal with a giant like NMDC and walk away with a shirt on.

Yes, our share price copped it, but mainly due to the lack of clarity (which was out of LCY's hands) and the deteriorating market conditions.

Even after this excellent announcement there are still some disbelievers questioning our relationship with NMDC.

We get a $200M "inter-company" loan and they are still trying to find holes in it or implying that we won't be able to pay it off or that it will sink the Co.

Jealousy, admiration?

Who knows?
You can't make everyone happy.

To me, it's a great step in the right direction and I'm sure that it's only a start of the things to come.
Now that we've got some clarity, a good resource upgrade from MB should lift the SP up even more.

Sharon, if you do read HC we would greatly appreciate a further announcement clarifying the terms and conditions of our $200M loan, not only for our sanity but mainly to silence the critics and disbelievers.

Well done Mrs MD.
Very ballsy deal.