LGL has always had problems from day number one. The mine is on the side of a volcano, oil had to be shipped in to generate electricity, ditto all provisions, it had hedging, management forecasts always proved optimistic and it was continually calling for fresh capital. I believe that most of these problems are now rectified although the volcano will always be there and it will always be an island! As regards the continual call for fresh capital. Woodside were in a similar position about twenty years ago. WPL share price was then around the dollar mark, that is $1.00. Don't you wish you could turn back the hands of time? Keep the faith. LGL will be a multiple of the current share price within a few short years.
LGL Price at posting:
$2.73 Sentiment: Buy Disclosure: Held
