LNY (ASX) News: LNY Laneway Resources Says Co To Undertake Capital Raising Of Up To $3 Million

Originally posted by gassed ↑

This is NOT your usual pump and dump CR ann.
It is absolutely typical of the tight lipped nature of this management. It's a trust me situation as it has been since LNY was formed.
BUT, it is probably the next best announcement that we could have received other than the TO agreement and the ML.
Funds will be primarily directed towards Laneway’s 100% owned Agate Creek gold project. The Company will utilize the proceeds of the capital raising to complete the remainder of the project approvals process and to make payments that will be due upon grant of the mining lease and to provide funding towards the mine development start-up after grant of the Mining Lease.

Now, you can't get more specific than that.

It will probably cost them much of that for the TO compensation and most certainly for guarantees etc for the ML. Essential costs which they must pay before those matters are official!!

If they are not seen to have done that, they are in very serious trouble and in absolute breach of the Corporations Act and I don't think that they are so foolish.

This suggests to me that they must be very close to having to pay out those compensation and statutory government charges, without which they simply cannot go anywhere. They know they are close.

But why are they so tight lipped, do they hate all of us for what is said on HC???

This IS very good news!!!!

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Hi Gassed Good to see your reply ( Yes its all GOOD ) I can understand why they want to place all these shares and Convertable notes with themselves and others in the MATES RATES GROUP . My Plan is that if you cannot Join Them then Stay Along with Them and increase your own holdings as FUNDS Allow .Interesting day tomorrow I have some funds in the Dieing stages of my AVB shares

News: LNY Laneway Resources Says Co To Undertake Capital Raising Of Up To $3 Million, page-3