They have 1.46 billion issued shares with 1.153 billion owned by NMDC so that leaves around 300 million available for trade, take away some of the core holders in the top 20 and you've probably got say 200 million or so which can be actively traded. If they decide to actually do something with Mt Bevan then we may see the sp rise but I really don't see that happening. All the management plan to do by the looks of it is the bare minimum in exploration, rock sampling, geo mapping etc all the cheap stuff whilst paying themselves salary, living expenses and other allowances until the money runs dry. Then NMDC will pay peanuts to the other holders to get the remainder of Mt Bevan which they can then develop.
Still waiting for the 200 million which will never appear and it was Heng and co who were responsible for that debacle. If this ever goes to say, 2 cents I'll probably be out the door and just use the money to buy myself a nice watch or something and book the loss as this is one dog which is dying a very slow death.
LCY Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
