why is it getting smashed, page-11

LGL naturally gets priced down because of its lack of diversification ie. only has one major mine. That was supposed to be the point to merging - however obviously the market doesn't think much of trying to diversify by moving into Western Africa!! On top of the drift in the gold price = big downgrade. They tell us that an advantage of the merger is massive upside potential given EQI has spent a lot of time in the Ivory Coast and obtained a stack of exploration licenses.... not much use to us if another war breaks out though.