Restructuring Initiative As part of the Company’s restructuring and continuing focus on expenditure reduction, Leyshon has been engaging with the key stakeholders in the Mt Leyshon mine site as it reviews the long term holding of this legacy asset. At Mt Leyshon, the Company holds five Mining Licenses and an Environmental Authority covering the historical mining operations which are now subject to long term rehabilitation. The Company incurs significant costs associated with holding Mt Leyshon which cannot be relinquished until rehabilitation is completed. A restructure will depend on a suitable arrangement being negotiated with the stakeholders of the project to reduce the liabilities incurred by the Company. If this can be successfully achieved, Leyshon would be a viable entity that can go through a recapitalization and listing process. This process has taken some time given the scale of the project and number of stakeholders involved, but the Company is hopeful of achieving a resolution in the near term.
LRL Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
