Well Towie, another 7 million has also gone through Chi-X all @ .005, so, who is going to be the first to say it, have we seen the last of the .004s and finally entering into where IMO the "new" LNY "should" be trading?? With a bit of luck, your anticipated buy @ .005 in 3 weeks time might also be in jeopardy and those sitting there @ .004 waiting for a dump might just be disappointed. But, I still reckon that we need to see a positive announcement before we get ahead of ourselves and so we can start building a solid foundation going into LNY's new era.
Now, people might still be concerned about that seemingly huge Issued Capital approaching 4 billion. Well, take a look at page 27 of the last AR and see that more than half of those are held by the Top 20 and they are all long term holders who wouldn't be looking to be selling for anything around these prices. Then you have 3,959 of the 4,583 shareholders who don't hold a marketable parcel of shares i.e. $500 worth and of the vast majority of those wouldn't even have $100 worth, i.e. 20,000 shares. So, I can't see where there is a "threat' of a big dump and if there is, we should see that from those remaining few who are not genuine shareholders, those that were paid off for services rendered with shares @ .003 and .0033 and I don't think that would be far off from now, IF it even was to happen. I'm becoming more confident that in coming weeks we will surely see selling from .005 to .008, but, nothing that will stop a solid and sustainable foundation developing from then on. Just a guess, but, with 20 years of proven gold sitting there only needing an excavator and a truck to get it to the processor and all of that being paid for by someone else, and that's only from 10% of the Agate Creek project with $22 million expected in the next 6 months from that 100,000 tonne first deal. Bring it on.
LNY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
