What is happening?, page-233

Taimoor
Yes. There is huge potential and that is the reason I have not sold. Management is lacklustre but there are reasons for the apparent lack of progress. Permits are tricky in South America and LRS lacks the capital for an all out drilling programme. From what CG has told us the permits are being/have been sorted and they have narrowed down the best areas to drill. What they now need is cash and that cannot be raised in the required amounts from a CR. LRS is cash strapped and needs to find a wealthy suitor. That is why I believe a JV is necessary and imminent. The announcement of a suitable JV partner would see a significant re-rating of the share price.