I wouldn't be surprised if several of the big North American players are running the slide rule based on the size of LGL's resource.
NCM's offer was timed to take advantage of the poor track record of LGL's past management and I don't believe gave sufficient consideration to the size of LGL's resource.
I'm sure that any final deal that is done by NCM , NEM or whoever will ultimately have to give appropriate consideration to a strong and likely to get stronger gold price plus a world class resource. At a gold price of $1200 - $1300 LGL is worth significantly more than $4 a share.
LGL Price at posting:
$3.96 Sentiment: Buy Disclosure: Held
