Guys I'm not a LCY shareholder but I've been following the story...

Guys I'm not a LCY shareholder but I've been following the story for several years and it's been an interesting saga.
What I fail to understand (and you will probably yell at me for saying this) is that shareholders still seem to think they're going to get Mt Bevan producing in the next few years. This despite the fact that Mt Bevan is located in the middle of WA and the only port which is remotely viable is Esperance, because that's the closest railway.
If recent history proves anything it's that bulk commodities projects are at the mercy of infrastructure. If you don't have a port and rail solution, you will never be able to claim you've got an ore reserve (as in the JORC definition of one). Even the operational Fe3O4 mines like Citic's are struggling and Karara needs another billion dollars investment to reach nameplate capacity and still run at a loss. So Mt Bevan remains a pipe dream.
What LCY does have is cash, a strong backer, and loads of opportunity in a market where everyone else in the junior to mid-caps sector is struggling. They could buy Utah Point and hold the other juniors to ransom without even turning a sod. Think about that as an alternative...

Just my thoughts. DYOR.