Ann: Quarterly Activities Report, page-163

I have a dream

As we continue our seemingly indefinite wait for news I would like to voice a plausible fantasy. This could potentially be the month, it should DEFINETLY be the year that it begins, or it could never happen...

In this fantasy LNY releases NZ drill results intercepting karanghake style gold intercepts, with Oceana Gold next door this would/has attracted their attention. If you've read their half yearly you can see that they are spending a lot on exploration around their mines, it would be plaudible for they to spend nz$25 million on drilling out our tenements in NZ for 70% of output, this would be high grade feed for their mill and would obviate the need for us to build a mill in NZ.

The Ashford project will take three to four years to ship it's first ore, it will be done by road and rail because the likelihood of the government getting the rural rail route operational before it becomes an antiquated white elephant is low(that's skepticism for you, please let them surprise me).

The grant of mining lease SHOULD happen before July. There's a mountain of Jelly that this pronouncement stands on and it wobbles even when I wispher this, but I did what other posters suggested and rang the office.

I talked to Peter Hall and learnt the following
-Mining leases are hard to get but very valuable once acquired (whew glad they informed me of that one after having funds static in lny for three years)
-Yes they stand by the End of June timeframe for the grant of mining lease(the Jelly is opaque now, not sure if it's bull-sheet but the consistency is familiar)
-Lny have only signed a heads of agreement with EOPL, we have always reserved the right to send the ore elsewhere, this raises the intriguing possibility that there is no exclusivity, we could send ore to multiple locations IF they are economical.

So we get the mining lease, send the high grade ore to EOPL and possibly other ore to other processors, NZ is paid for by one of the majors(Oceana I'm looking at you!!), Ashford takes about four years to start providing a return but once it does it's a total cash cow, after Ashford starts providing a return potentially the gold in NZ starts being used as mill feed in NZ which we get 30% of, by this stage we have superficially explored agate Creek, I mean superficially because its a vast space to explore, exploring at depth is expensive, but we would have at least found a +1million ounce deposit, with far more inferred resources to be proven. We strategically site a 1.2 or 2.5mtpa plant in the middle and start the build which cost us about $150-$200million. In six years from today we become somewhere in between a low to middle tier gold company worth +$500million conservatively.. very conservatively...... (Any more dots would indicate lny induced madness)

What I'm saying is that I don't think any of us that remain are out for a quick buck, I don't think the board is, I don't think the people that read this are, we are not in this to Scrabble around in the dirt for change, I certainly am not here investing my hard earned money in anything but what I see becoming a mining company of impact with a presence worthy of noting.

Let fate prove me wrong