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Lyddon, just read your post in a little more detail and you seem to imply that management would sell out for a pittance to the first offer that came along. Well, I am not so sure. Remember that group who were christened "The Gnomes of Bangkok" back in 2021? It seems to me that they would have a lot to say about selling on the cheap. They pretty much control the company by now with around 50% of the stock or more (who knows what they have stashed away in nominee/offshore companies?). So really, we have to say to a certain degree that we are all in their hands.
The good news is that usually junior mining stocks that have a strong owning group and management who have a good sized stake in the business, and it looks like LEX has both, are usually the winners as they take a long term view towards developing an asset!! I certainly take heart from that and hark back to the CEOs comments last year that offers are coming to them from inside and outside the USA which could be worth looking at.
I reckon its all to play for and now the stock has dipped below 5p/share, I would be looking to pick some up. We also have the Jennings Pioneer and Argo soil test results due quite soon as well. Maybe we'll also get an idea as to what they 2023 drilling program may look like....and which undrilled anomalies around JKL that they'll be poking drillbits into. Oh! Yes! And Lyddon, well done for picking a few up. I am sure you will be richly rewarded as am I going to be!!
You may be correct Genius, good volume today with no planned news on the calendar, I mentioned a little while ago that a bigger player close by may want to aquire us for chicken feed….. who knows?!!
Pretty solid support around this 5p zone. Expecting to see this come to life soon
Interesting post Ippy. One of the most intriguing things about it is the fact that the cut off grade with the Pancon resource at Sawyer is 0.4g/ton. Our most recent one at Jones Keystone is 0.5g/ton. Their deposit is close to surface, so is ours. I reckon that changing the cut off grade is an ace in the hole for management further down the line. At $1800 bucks an oz, its got to be worth mining down to that grade. Just given what we have now, I am pretty sure, though I am not a geologist, is would seem quite within the bounds of possibility that this alone would raise our reserves from 210K oz to 240-250K.
Just seen Pancon (TSXV:PUC), who are exploring the previous Brewer mine and have hit multiple 100gram metre intervals, have just acquired two more contiguous licenses in Carolina. One is a previous mine whilst the other is what they believe to be a downtrend prospect of the previous mine. Both have prev. shallow intercepts similar to ourselves so they'll be trying to prove up a larger res over the coming months/years. Fittingly, they're changing their name to Caroline Rush Corporation!
Lots more activity in the Carolinas which will only bring more attention to our projects.
Well I am just parroting what CEO Bernard said a few months ago. Crucially, the announcement also said that the opportunities were not just in the USA, they were international/global as well. Some of the directors have been on the precious metals/resources patch for many years now and must have excellent rolodexes which I am sure that they are not too old to use.... Let's see how things pan out, but I have to say that the share price has been behaving very well the last few days....
If one looks at the last RNS I do believe almost a 1000 samples were sent off to the labs, results expected back Q1 2023.
That's my understanding of it anyway.
There is no drilling or JORC news due so what else? Rosie thinks deals elsewhere may be on the cards but what about a bid from one of the bigger fish near us who have publicly stated that they are on the lookout for aquisitions?
I'd agree someone didn't want to wait any longer and cleared all the stock out under 5.5p. 10k shares all that left
The buyer sitting on the bid for the last month or so passively picking up stock may have just changed strategy and is becoming more aggressive as time is short for incoming news?????
Some serious volume today!!
Just took a look at the chart over the past year and observe the following. 1) upward move of just short of 5p since mid 22 lows. 2) Since November highs, consolidating nicely. 3) Large descending wedge formation building up. 4. Breakout is due quite soon. 5) Excellent support from 5 to 4.75. 6. Upside breakout objective 9.5 to 9.75.
I still keep harking back to the CEO statement last year that LEX is being approached in an unsolicited manner by others to do things with them. It also seems that someone is accumulating stock, there has been good steady volume over the last few weeks, and the price has absorbed some serious liquidations with ease. I'm tempted to think something's cooking. Fingers crossed......
all seems to be progressing smoothly.
New note out from WHI today. Target still 11p/share based on what we have now, 210K oz, but they state outright that they expect us to increase this number and therefore the valuation will go up. Good to see they are still on the case and providing support.
Hear you Lyddon, but not sure how you do that with an MM system unless you suborn and corrupt an MM.....but having said that, the activity is actually quite encouraging.. Steady buying nearly every day...
Six lots of 100k sold in quite an aggressive manner and the bid increased… the best way to accumulate stock under the radar is to sit on the bid and not attract attention. Something coming maybe??
Yes feels very different to when we tested 6p back in 2021. Do wonder how talks are going on new licenses areound JKL and further afield...
You may be right. My broker is suggesting that the market is still quite short this stock. Even with the volume of the last few days which were mainly booked as "sells" the price is only off 0.1p. This is telling me the stock is well supported whoever is doing the buying!! Maybe there's a new player in town. Whatever the situation, the free float is forever reducing in size, which for junior miners is always good news if we get some ground breaking news. Perhaps if the MMs have reduced their short position, they will be less inclined to push the price back down...
I am keeping the faith!
Nice to hear from you again Rosie, it seems like a while from your last informative post... Volume again pretty good today, I dont think we are expecting any scheduled news soon so here's hoping for something left field??? Still up 10% so more than happy with that
Tks Mr. Burton for the heads up. Good to see LEX in the list of potential big movers. Good to see a bit of volume moving through in LEX after the new year and not much downward pressure. I am pretty sure that we will be seeing an update as to what the plans are for the Carolina properties are over the coming 12 months which will 1) be aimed at expanding the JORC resource and 2) picking up mineral rights in the areas highlighted by the CEO in the last, very detailed release..
It will also be interesting to see what pigeons come home to roost from the suggestion that LEX is being offered interesting properties outside the USA. Intriguing to say the least.
Here's to 2023!
https://total-market-solutions.com/2022/12/12-mining-companies-to-follow-in-2023/
"...2022 has been another year of solid progress for LEX, the blossoming promise of JKL and Carolina Belle pushing the company’s share price up since May from 2.5p to 5.70p at the time of writing. LEX has stated ambitions to follow in the footsteps of fellow Carolina Super Terrane explorer Romarco Minerals, which was acquired by ASX-listed OceanaGold after delineating a resource estimate of 4.5Moz at 1.8g/t. In the meantime investors seem to have more good news to look forward to, notably the release of the maiden JORC Resource for the JKL Project ‘expected in early November’, and further drilling at Carolina Belle..."
I hear you there Ippy, but my guess is that they'll be busy identifying the plots they want and talking to owners and negotiating. But they may wish to coincide this with a capital raise for more drilling as well as acquisition of the mineral rights..
But yes, interesting times..
I distinctly remember Bernard stating in a TMS interview, they ddin't want to release too much info on JKL in respect to geophysics as they were interested in acquiring land packages around their current tenements. Some of the magnetic and K radiometric targets lie outside their land packages - are we about to hear about new ones being signed? Could be a very exciting new year...
I see the Ice Man is now over 23%….. strange time for a positive RNS
*wild 2023 even!