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towie

30,381 Posts.

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06/10/17

15:26

Post #: 27717753
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Originally posted by gassed ↑

Tman6571. Welcome to your forum. Great questions. I'll have my 2 bobs worth to start.
Re the first one, I agree totally with your view on lack of information. Nothing until all finalized. I'm also sure that the last thing they want is to start an uninformed short term day trader frenzy.
That is also my view re your second point. IMO, a "lid" has been slammed down on trade with that whopper of a selling block .004. That certainly will deter ST punters like nothing else.
But, most, if not all, of those sales @ .0035 would have been crosses on bids @ .004. You can't bid for .0035. IMO, there would be as many as you want @ .0035 with a bid to buy @ .004, but, don't punt on that as it will be an expensive mistake if I'm wrong. Only for the real punters.
The timing is an unanswerable question. They are not dealing with a "normal" business transaction. It is more a "cultural" thing than pure financial. And you are right, the company really has no cash and their only cash is to borrow from S Bizzell and from what they really want, the cash flowing from production from Agate Creek!!
It's a bit of a catch 22 situation if the TOs are insisting on cash, because the company needs their approval to get the ML to extract that gold for the cash flow.
I've said before that this MLA only relates to just 10% of the entire property and the same TOs "own" the other 90% also.
We can only hope that both sides are not playing hard ball because if they are, it will be a Pyrrhic victory with not just the winner but both sides being losers the longer this delay continues.
At least one thing that you will get from this forum is an absolute assurance that you're certainly not alone, if that's any comfort!!
Hang in there, something, surely has to give, the Notice of the AGM and then the AGM itself are dates to keep you interested. Would they go to an AGM with only what we know today??

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Hi Gassed and TMan some good interesting postings.I was under the impression that to trade those .035 shares one had to be able to trade on the CXX exchange.If this stagnates until X Mas then it means that as funds become available I may be able to pick up another Million plus shares waiting for the eventual jump to 1 cent plus when the traders jump on Cheers Towie

LNY Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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Nice Week and more to come, page-68

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