Dugsab. That news, which again we have to read in the newspapers, that LNY plans to build their own 700,000tpa processing plant, presumably on site for Phase 2. What is Phase 2? would that be AFTER ML100030 is completed, or, part of ML100030? As ML100030 is 689 hectares with 8 million tonnes of earth and a JORC of 381,000 ounces of gold. That 700,000tpa plant confirms our belief that the 100,000 tonne deal with Maroon is just the cash cow for the future development of this project and in no way should be used in guesstimates for the entire ML100030 project. Either way, those numbers would most certainly make a huge difference to those numbers that have been extrapolated by everyone so far on this forum? If Phase 2 is part of this ML then that would cut the processing time down by half and most certainly would have a huge effect on the ratio of take for LNY and the company commissioned to operate the plant and processing. It will be nothing like the first Maroon deal.
But, wouldn't it be nice for the company to spell out all of their plans so everyone would know what the hell is going on and be able to make reasoned decisions about their investment!! In fact, if we all knew their plans and the timing, I'd go so far as to say that LT shareholders would love to see that 700,000tpa plant up and running at the very earliest opportunity and might even be prepared to fund it!!! Or, will management just rely on the cash from Maroon and SI placements as they have always done with LNY and take forever to do it!!!! What ARE their timelines??? What about some transparency even for their mushroomed shareholders!!!!
LNY Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
