I bought in to LYC a week or so ago based on the fundamentals of having the cash needed to see it through to production, the niche, but large market it is in and the excellent resource it has.
It seems to have fitted the perfect cycle of a share moving from explorer to producer, albeit with a lot more dramas along the way and probably a few more still yet to go.
But the sp reflects this and in my opinion make the risk reward ratio lean towards the 60c buy I made.
I do love my charts too, and the triple bottom achieved, if it holds over the next few days, and formed over the past few months, is a highly bullish signal.
Let JPM get their cheap SPP underwritten shares and see where we go after that.
I love it when t/a and f/a come together. It is of course hard to ignore the circus and just focus on the final goal, that being a low cost, profitable producer, but LYC appear to be doing that despite distraction from the clowns (those pesky little devils).
Milesy
LYC Price at posting:
59.2¢ Sentiment: LT Buy Disclosure: Held
