LNY (ASX) not possible

Originally posted by 20MillNoLess77 ↑

This sounds like a lot more planning and money is needed..So we have the money to pay for all this and to pay for two teams to process the gold?

Honestly, not taking into account our current issues, whatever they are, as we don't know, all this sounds like a 12 month proposal to set up and start..let's say we got the go ahead by June or July, for us to get two plants running simultaneously would be a while and surely a CR WOULD BE required?
Also, they can't ignore the fact we really need to consolidate badly if they are to sell more shares to people right?
I feel we are in for a rise in sp, but only a partial rise from the agreement being reached, and not more than a 1.3 cents until both plants are running and producing the 350,000 to a we are aiming for. I feel that could not be achieved until next year, late 3rd quarter, 2019.

I personally think it impossible to have this sorted other than a basic recovery of just 100,000 tpaor less. I don't think anyone is ready to do more in the company. And as I said, consolidation has to be coming somewhere, surely, because extra money had to be for this to progress forward to full scale full capacity production and purification or of the gold.

I feel management has to provide us the answers to these issues I raised, but which are not covered in any detail as yet.

Expand

[/QUOTE]

Hi 20Mill,

I can't see a lot of logic in your analysis, let's take this step by step -

Plus Peter Wright's holding = 22,652,642 shares

Equals = 1,466,321,280 shares

SOI = 3,346,732,599

The boys skin in the game = 43.81%

Clearly, based on the past, the Board are avoiding any significant CR....why....
1. It hits their wallet harder than ours.
2. We are close to producing, and can fund any past and future costs through cashflow.
3. Bizz wants his $2mil cash/loan back.
4. Bizz's average buy-in = circa 0.019 (1.9c) - 1,099,902,623 shares x 0.019 = $20,898,150
5. Peter Wright has loaned the company money, and wants it back.

The processing will be out-sourced - Mill/Plant offsite

"3rd party processing options – Laneway have received several offers for potential toll treatment of the Agate Creek ore which are currently being reviewed."

There are two (2) mills located in Charters Towers, both have a nameplate capacity of 650ktpa @ 95% recovery.

Both own their own environmental approvals (ie not LNY's responsibility in regards to the granting of the ML).

IMO, the EOPL processing deal is history, so forget 100ktpa @ 88% recovery rate.

Transport costs will rise, but that'll be covered by an improvement in recovery of 7%. Not to mention 6.5 x faster processing rate (and 6.5 x faster money in the bank/gold bars in the vault).

ML is "expected during FY 2018".....with "Mining is planned to commence shortly after Mining Lease grant subject to any wet season constraints."

Hope that helps,

not possible, page-53