Did some research on our LCY going back 12 months and picking out what to me were important activities/actions by the Co and why I believe LCY is seriously ready for a significant re rating. Here is a chronological list events as announced by the Co:
06/08/10 - LCY signs agreement with HAW on JV deal on Mt Bevan. LCY aquires 60%/HAW 40%.
19/08/10 - LCY announces high grade gold intersections from Mt Celia Project.
02/09/10 - LCY announces additional high grade gold intersections from Mt Celia.
15/10/10 - Air Core drilling from Robertson Range outlines FE assays results varying from 25 - 42%.
19/10/10 - LCY announces Mt Bevan farm in exploration to commence immediately.
18/10/10 - LCY announces a stake in HAW of 17%.
21/10/10 - Further drilling to continue at Mt Celia to increase AU resource.
15/12/10 - Mt Celia increases AU inferred resource by 34% at Mt Celia to 121,000 oz.
05/01/11 - LCY announces Trading Halt.
06/01/11 - LCY announces they are in negotiations with NDMC regarding a possible 50/50 JV on their FE tennements in Robertson Range and Hamersley Projects.
11/02/11 - LCY secures 2 year project funding with Springtree for 7.6 million dollars.
16/02/11 - LCY commences Mt Bevan drilling.
11/04/11 - Response to market speculation. LCY announces negotiations with NDMC continuing after several several news articles from Indian media outlining possible deal with LCY. One such article points out that Indian Govt appoints Australian Lawyers to carry out due diligence on LCY'S FE projects.
29/04/11 - Quarterley report confirms 239,000 tonnes @ 3.97 g/t gold from Mt Celia with further drilling to continue.
02/05/11 - LCY completes 5000 m drilling at Mt Bevan and are aiming for 500 million tonne JORC with FE grades expected to be similar or better to Jupiter Mines(JMS). MT Bevan resource is expected to increase to 1.5 billion tonnes with the aim to have a DSO operation asap.
I now believe once our maiden JORC from Mt Bevan is announced a serious interest from Insto's and Brokers will begin. If or when a NDMC deal is struck on RR or Hamersley then a MC of 3-4 times the current one would be a very conservative estimate on this Co. I always look at JMS for a reminder of where this Co is going and beelieve exciting times lie ahead. Current MC of under 20 mill is hilarious.
LCY Price at posting:
9.5¢ Sentiment: Hold Disclosure: Held
