I am still in and hoping for better returns...BUT yes, I agree my money is stuck in LCY. One day this will run in next 2-3 yrs max, I will not sell untill then. As of now my money is safe untill LCY is well supported by NMDC. Look at what has happened to other small or even producing companies like BHP and RIO.
Modi's "Make in India" will need resources including iron ore. Drilling Mt Bevan is out of question as the ore prices have crashed... What do you expect LCY to do with Mt Bevan when you have so low iron ore prices. I think there is a possibility LCY may buy some assets in OZ. Atleast, I hope so.
I am waiting untill 3-4 weeks to see upward movement in the general market. Hope this movement translate to LCY too....
NMDC has recently partnered with ESI - once this tech is proven I think they will move quickly on other assets in OZ.
LCY Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
