G'day Towie. You're on the ball today!! But, let's look at those numbers, "Ore Reserves increase by more than 40% from 30,500 to 44,100 Gold Equivalent Ounces."
It's from the 8th level. They are there now. That's why Newcrest walked from LNY's property. It will take massive infrastructure works and big bucks just to get there.
LNY will never extract an ounce of gold from NZ in our lifetime.
It's taken over 8 years just to scoop it up from the surface at Agate Creek and we still could be ages away from doing that!!
Now, what does LNY have now?
"Agate Creek Gold (Indicated & Inferred) 381,000oz (grade 1.4g/t), shallow high grade deposit.
Let's hope that today's buyers know what they are doing. Next few days could be very interesting, either way.
Price of gold is only holding up due to crash of A$. US$ price at lowest for 6 months!!
LNY Price at posting:
0.3¢ Sentiment: None Disclosure: Held
