hey schu - if NMDC want to get a return on their investment in Mt Bevan its going to cost a lot more than 30mill - try something like 3 bill and then you may get close. why would they go through LCY to make an acquisition now ??
other than rhetoric we have heard nothing from either company about how LCY is going to be used.
with the ease that NMDC basically took over LCY and did it for peanuts then what makes you think they would just try and do the same with another company. why involve LCY ?? you may say it would be eaiser in terms of FIRB etc to use a local based company but the FIRB did nothing in allowing NMDC to get the 49 percent stake for almost nothing, then LCY blew that on coal tennements that are completely worthless, buying a shell company that is another waste and then there is the whole 'condifental' stuff with Heng.
its been nigh on 4 years and we have seen this company go from 22c at high now down to almost 1/50 of that price.
NMDC played the perfect game - getting 78 percent for next to nothing.
if NMDC do buy an acquistion and it doesnt go through LCY then I will be so excited to see HAW be as difficult and prolong things for as long as possible.
good luck with your line of thought about next month being important for NMDC to release their master plan. i would love to see LCY painted all through it. It would mean the share price might actually move somewhere.
If NMDC actually cared about LCY shareholders they would have done the cap raising at 5 c and saved the dilution to 1/4 of what it turned out to be. they could also get institutions and investors in India to start buying, and they could have done some decent PR work.
we have had nothing but bad news and some form of dubious accounting over the past 4 years. we (LCY) are seen as complete and utter basket case of the ASX - as reflected in the share price.
I would be so happy to see this go north. it would change the lives of lots of my fiends who I have met through our common investment. it has left many with huge debts, led to peoples lives being compleetely screwed etc through a whole series of broken promises and statments from the copmany that never actually eventuate.
so good luck. i still hold in to the top 40. but dont hold your breath.
we are 1/50 what we have been before. we are 0.4c. we are a joke.
LCY Price at posting:
0.4¢ Sentiment: None Disclosure: Held
