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Originally posted by docmin24: ↑

I have been saying Maroon would end up in this situation once European Cobalt pulled out of their TO bid. They saw the big red flag, left and now Maroon's $20Mil was too big to refinance in this climate especially when they aren't a producer or listed company not having a large shareholder base to financially assist them. I totally agree with another poster that they do have some great gold tenements which LNY should snap up as a priority, their plant would be my secondary focus regarding the $1.8Mil debt owed to us.

Just a shame imo that LNY appeared to go into hibernation mode since Maroon finished last year and should have been drilling and mining at the start of the year not 10 months later (my biggest issue with LNY), as we would have significant funds to TO all of Maroon's assets outright or get NZ moving by now imo. SP wouldn't have been smashed and market confidence would have been booming and by years end we would imo be offered a serious TO price. What a waste of 10 months imo or has it!!!!!

This stock is one of the most frustrating ones I own. LNY's perceived contempt, arrogance towards their holders imo and overall game plan has been my biggest concern over the last 10 months or have I totally misread LNY's game plan here. I entered this stock due to SB's reputation as a smart manager taking companies to TO and SH's seeing significant returns. This will happen to LNY, confident of that but in what year is my question.

I and many of us have been critical of LNY and rightly so imo, especially when SP getting smashed and company saying nothing. Are the dots finally now lining up and maybe LNY's game plan is finally being realised and Maroon heading to administration is why LNY went into silent mode etc etc. Especially now we are in the box seat as a major creditor circling over Maroon. Or has it just been by chance and not a plan!!!!!

Last month has impressed me and along with the Maroon situation. Have I have judged LNY too harshly and would love to think LNY has been deliberately in the go slow silent mode since the beginning of the year because they have a bigger game plan with respect to Maroon's sinking situation. Because I can't find one smart reason for LNY to stop and do nothing since the mining operations of last year and can understand doing something now with AGM coming up.

Well the next few weeks we will all know exactly whether it was a perfect plan by LNY or they really couldn't care less about holders, they will run their own timeline as 70% owners and certainly don't need holders support do they and have blown a perfect opportunity to capitalise and this is a lifestyle coy imo after all, one way for sure we will all know soon enough imo..

But over recent weeks I been thinking outside the box of why LNY is where it is and what they have done are doing etc etc so I am over criticising and taking a different approach and focused on what's ahead. Hopefully I will be surprised and very happy to eat my humble words if I have got it all so wrong. Lets just wait and see but SP will increase confident of that.

Hopefully they increase the tenements, then we really could be a very profitable producer 12 months down the track. LNY's true potential could easily become a serious mid cap player in the gold industry. But I do struggle to question and understand the skill set and make up of our board structure if we are ever going to become a mid cap gold producer, currently we do look like a more of a life style coy and will be sold eventually and NZ will be a next project for our financial masters imo..

So many twists and turns going to happen, just hope the company finally unlocks wealth for all holders as this is their priority as company directors imo.. GLTA

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Completely agree with your thoughts Docmin it is refreshing to read . I like you have similar thoughts although I perhaps am more dubious as I feel half a million dollars a year in admin costs is a good return over many years so why rush.
As we are all aware the gold price is running and Lny share price ? given we have $1.2 bill in the ground (still) . One thing is for sure there is no urgency which raises its own questions . As one poster mentioned today he treats this as a mid to long term play that definition needs updating.
To echo your thoughts the AGM is coming so something will come out to pacify the masses. The 30,000 tonne parcel intrigues me as to whether this will be delayed until next year.
Good Luck to all .

HP

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(20min delay)
Last 3.5¢		Change 0.007(25.0%)		Mkt cap ! $9.838M

Open	High	Low	Value	Volume
2.9¢	3.5¢	2.9¢	$2.96K	89.51K

Completely agree with your thoughts Docmin it is refreshing to...

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