Gassed I am a small but long term holder of lny (back to the days of Renison) and I have some questions and comments about the current situation:
Is the Georgetown Mill owned by EOPL - I think so but not sure?
There have been some comments on HC that the readiness or otherwise of the Mill is responsible for some of the current delay but I cannot see how that would affect the current negotiations - the mill needs to be ready so as not to delay the start up of production but lny are not close to that situation yet.
It seems to me that the negotiations are probably more complicated than normal due to the need to provide the TO's with employment opportunities and as lny will not be doing any physical work in the mining and production processes then that brings EOPL into the mix.
If that is the case then these negotiations are to decide the pay conditions for both the TO's and EOPL. I assume that EOPL do not yet have a written and signed contract as to the terms and conditions of their involvement in which case they are not going to rush out and spend cash to refurbish the mill without it.
Lastly, I note that the new director of lny (PW) appointed end of Oct last year (also a member of the Chairman's organization) is also a director of BSM ( a graphite miner ) which has a healthy share price graph rising from 1 cent to 2.5 cents steadily since the new director's appointment. Do others think this is a positive for Lny's outlook??
Considering the above I cannot help feeling that the current negotiations are likely to go on for a lot longer than we would like. I welcome any and all comments from anyone who has anything positive to add Tman
LNY Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held