I am a relatively small but long term holder of LNY going back to the days when it was called Renison. Like many other HC members I have become considerably frustrated with the endless delays and more importantly the lack of information concerning the status of negotiations with the TO group. I have some points of view concerning LNY about which I am interested to get comments from other HC members, either in agreement or not:
Concerning the lack of information as to progress in negotiations with the TO group it may be that because of the prior instances of suggesting probable timing of events which were not met, they need to ensure that no false hope is given again to shareholders hence a policy of no comment until absolute finalisation is reached? I hope this is the case . What do you think??
In the case of share price stagnant at .003 there seems to be a significant number of cross trades for insignificant volumes at .0035 which leaves the closing price for the day at .003. It is probably beneficial at this time to keep the share price low ( and as a result, the market cap. of the company low ) to retain a low profile. Manipulation?? – I don’t know?? But probably not a bad situation if there is some improvement in the share price in the near future??
Lastly, my main worry is with timing. If I believed years ago that it would take this long to reach this point in progress then I would not have held on to the shares for this many years. At this time we still have no idea whether finalisation of the negotiations with the TO group is progressing OK or is likely to continue beyond the end of this year.
The annual report to 30 June 2017 for LNY showed an unfavourable situation re Current Assets VS Current Liabilities for the company but with comments that the Chairman and the senior employees are willing to support the company financially at this time. If the current negotiations with the TO group are stalled because the company is offering say “share of profits after production starts” but the TO group wants “cash up front” then it seems to me that this could be a delaying problem??
There has been a comment from LNY management that production will start before the end of the year. That seems to me to be unlikely but I think not crucial provided there is some positive comment either in the next quarterly report or at the AGM concerning progress. Ideally, I would be happy if there is agreement with the TO group before year end leaving only the ML approval to be issued.
Any and all comments would be appreciated.
LNY Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held