LABYRINTH RESOURCES LIMITED (ASX:LRL) - Re Mount Leyshon, 18302174, page-3 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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captain birk

7 Posts.

18/07/16

22:47

Post #: 18302174
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Originally posted by ProPunter23Red ↑

Captain, funds of 4p per share were distributed, but they retained around 8m for provisions, and advised that a further payment of another 0.5p - 1p would be made when wound up, with a timeline of 12-15 months given. We are now long after that timeline and shareholders have a right to know where the 8m usd went and was there anything left! Technically can only claim a tax loss on this when either disposed of, or wound up, we are still in limbo.

Hi Red,
I've scoured the rns releases on AIM and the only financial position I can find is $25 million on hand with creditors of $8 million and work in progress.
They subsequently stated that the divi would be $15.4 million or 4.1p a share. This of course relates to Leyshon Energy.
Given their track record, I reckon that's it. Re LRL, we can kiss goodbye to the unsecured loan of $600k to the Koreans (you couldn't make this stuff up).
And with gold at around $1325 per oz those figures I produced previously now see a further $7.5 million through to the bottom line.
It's not only the gold mine that's been shafted.

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LRL Price at posting: 1.2¢ Sentiment: Hold Disclosure: Held
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