I was a holder of gmm for approx 5years at an average price of 15c. It then turned to crap and fell to a worthless .002 of a cent. Just like lcy. I decided to bite the bullet and average out at 002 and 003, didnt need to buy many. Ended up sellling most of my parcel at 15c and made a nice lump of cash. gmm drifted in the doldrums for 3 years and i waited and waited and it finally came to me. I averaged out at a time when they had nothing, no cash, no prospects nothing. Point being? here i am with LCY. Although i did not buy at a high price i have friends who average around 10c on this stock. I have been watching it for years as i was once a holder of HAW for there iron ore. Now with nearly 8 million in the bank plus a massive iron ore resource that will eventually get bigger (yes i know iron ore is dead, but it wont be for long, this is the history of the market) and some gold tenements plus in the recent quarterly they mentioned they were advanced negotiations at some acquisitions, you would have to be a total chicken not to plonk some money on this one. One day it will pop, and when you see it run you will be shaking your head wishing you bought or averaged out. 72% is owned by nmdc and they will not be selling at the current prices or even close to it. maybe 15-20c if it gets that high otherwise they are just pissing money up against the wall. It may take one week, one month, one year or more i dont care, but i tell you this, this one wth all its negative history will awaken and you will wish you bought at these ridiculous prices. I have seen too many stocks in the last 12 months go from under a cent to 5 c and much higher. LCY will follow, they actually have a proven resource and plenty of cash and a strong albeit slow acting major shareholder.
LCY Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
