Ann: Full Year Statutory Accounts, page-56

Well, I'm starting to share the view of the old timers here. Even though I only bought in a few months ago, at 0.007, and am sitting on an excellent profit, I'm seeing little evidence that LRS plan to drill, especially given the latest announcement. Saying "we want to drill and get a JORC" is really saying nothing. Where is the plan?

Looking at the accounts, one could indeed be forgiven for thinking this is indeed a "lifestyle" company. LRS possesses no apparent mining/exploration expertise and now has no money for such. They have drilled in the past, but now all they can do is cap raise or sell land.

At the very least, LRS should issue an announcement explaining why they have been unable to drill, when they DO plan to drill and how they will finance themselves over the coming year. The information in the accounts is much too vague.