LB, what goes around comes around, right now the IO price is low and not many companies can produce and make a profit,
I don't think there are any heroics in producing simply to stay in the market and running out of cash slowly over a period of time. You can go broke by staying home in bed rather than working your guts out and achieving the same result. If you are a producer and struggling they would be better off suspending operations and concentrate on other projects or even spend on increasing their iron ore resources. These current prices will not be here forever.
Notwithstanding the recent goings on at Lcy they should still not take their off the ball and proceed ahead
proving up Mt Bevan particularly the hematite resource, because at some stage I believe this project will be
developed with or without Lcy and Haw.
So Lcy get your finger out and let your funding partner be aware that this project should proceed full steam
ahead and get the project through to BFS, and then if the IO price is still not favorable suspend further
development until the IO prices firm.
I have heard somewhere before that the OPEX cost to produce magnetite at Mt Bevan should be quite economical but at the rate we are going we will never know.
LCY Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
