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11/11/17
15:13
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Originally posted by gassed
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Some very interesting reading in Gold Road Resources GOR in respect of all factors relevant to LNY, albeit on a larger scale. Worth a read.
More specifically it made this announcement on 4 May 2016
"HISTORIC NATIVE TITLE AGREEMENT IN PLACE FOR GRUYERE PROJECT Gold Road Resources Limited (Gold Road or the Company) is pleased to advise it has signed a historic native title agreement for its advanced Gruyere and Central Bore gold projects, which are located in the Yamarna Greenstone Belt approximately 200 kilometres east of Laverton in Western Australia. The landmark agreement between Gold Road, the Yilka People and the Cosmo Newberry Aboriginal Corporation (CNAC) was signed at a ceremony at Gold Road’s Yamarna camp on Tuesday, 3 May 2016 .
Very interestingly it was not classified as "price sensitive"!!! Maybe LNY management have got it right.
It is also an example of shareholders having to be patient if you start reading from Nov 2015, but, earlier if you go to the ASX announcements. They have a M.C. of $623 million!!
Sure, they are on a much bigger scale, but, as far as actual timing is concerned those initial shareholders still have a long time to wait and a heck of a lot of work ahead of them.
This is from a letter to shareholders in December 2016.
"In May the quest to move Gruyere towards production received a major boost with the signing of an historic Native Title agreement between Gold Road, the Yilka People and the Cosmo Newberry Aboriginal Corporation. Within days of the signing of this historic Native Title agreement, the Western Australian Government granted mining leases covering the Gruyere, Central Bore and Attila deposits. (p.s. I expect the Queensland DNRM to be just as quick!!)
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I can imagine once it is all signed and dotted, the ML will be granted immediately, as it does in WA, it has been lodged for a long time all is done, just needs the TO done, so production by the end of the year can still happen. Still got a month and a half.