Ann: Notice of General Meeting/Proxy Form Part 1 , page-11

re: Ann: Notice of General Meeting/Proxy Form... Hate patience being the key, totally agree though. Paul needs to step up on the investor relations front or risk long term credibility damage in my honest opinion.

Good corporate governance needs to be perceived as well as in place. The corruption index is a good example, where surveys ask where you think a country ranks in corruption and it generally is a very good indicator of actual corruption. My point is that Corporate governance is valued by investors and hence a premium (or discount) is put on a stock because of this. If investor relations and corp gov was improved (the 2 are highly correlated) then Leyshon would trade with a positive Enterprise Value and not a negative EV. If Leyshon later decide to farm out drill costs like Sino have done very successfully for a % of the project, then a better farm out arrangement usually results. One of the reasons is the farmee looks at the way the market values the project with a positive EV, and then partially justifies the farm-in % and costs to new investors. Otherwise the new investors would be better off buying LRL (but they don't because the investment houses don't get their commission), the market isn't that efficient.

Anyway, Paul if you read this, please increase investor confidence by providing regular updates, be they good or bad, heck if they are bad just say what the new plan is, and if you don't know just say that you are talking to multiple parties (that always increases buyer/farm-in interest), regular updates is key, keep the market thinking it is just around the corner - which IMO it is

Will be very interesting to see if anybody starts buying up Leyshon.asx post demerger, imo it is perfect for a Newmont takeover, or for them to at least increase their stake to 19.9%. The bigger asset in the long term may just be those MT Leyshon tenements particularly if the gold price pushes past $1500 where viability was indicated. Option value of exercising this project is actually quite large, will do some modelling on it in the next few days with the very limited knowledge available. They have the ~150 oz in the scat mill balls but what else is lurking next door...? Th best place to find gold is next to an old mine. And from memory 2.2m ounces were produced when the gold price was less than $300, granted capex/opex/exploration costs have skyrocketed.