The only things that had materialised since NMDC bought a 50%...

The only things that had materialised since NMDC bought a 50% stake in LCY almost 3 years ago are:

- purchasing of unexplored coal tenements in QLD
- phase III drilling of Mt Bevan & resource upgrade
- acquisition of unexplored gold tenement in WA
- a 2.7 million loan from Citibank
- VTEM survey of Koongie Park
- shares issued via convertible notes
- sacking of John Hebenton, eventual appointment of Julian Mizera
- Appointment of Azure Capital
- Appointment of RBS Morgans
- Appointment of Cannings Purple
- expiry and subsequent relapsing of options



The things that never eventuated are found below:

- $200 LOC (MAK's Wonurah / AGO's Ridley)
- Term sheet with HAW
- Rights Issue to raise $25 million
- Gold / base metals spin-off via Synergy
- Acquisition of Avalon Minerals / Viscaria Project
- Acquistion of base metals project via TNG


Looking at all of the above, its quite easy to see why its been so damn depressing.

What have we really done thats of significance except for Phase 3 upgrade @ Mt Bevan?

Is there no resurrection of this company that had such potential?