RE: Sad really2 Aug 2022 11:36
A new month; and so, with apologies in advance to the happy clappers, I'm allowing myself another post on my true feelings here.
While I'm fairly annoyed, I'm more dejected than annoyed, in fairness
Here we are with no new CEO or Marketing Director and one more new drill program upon us..and I can readily see this s/p staying in the toilet , even if/when this latest drill program is - hopefully - once again - very- successful.
Obviously, great if there's a meaningful sale event coming here at any point in the remainder of this year.. But in my mind, altogether, it's 80 -20 % in favour of this not happening, alas.. but I'd be triple thrilled to be wrong !!!
And so I look to a discussion on funding of the latest development programs:
In fairness, there has been some innovative ideas - options exercise/directors loans.. sale of ancillary interests.. exploration JV of some sort ..etc.. - posted here, but history tells me a share placing around October will be the sum of what happens.. and my latest thinking is that in these markets and at current awful s/p & market cap.. a small more than even medium sized placing is the way to go.. eg considerably less than the 3.5m gbp raised in early 2021.. I say this in the context of lnd.l having a solid cash in the bank - including 2.5 m ish gbp raised from warrants - position currently ...and raises generally being done at a decent discount to the prevailing s/p around that time.. and, most especially, in the context of the market NOT raising this s/p up in line with excellent grow out of proven gold resource here, as the 'rules of the game' generally dictate.. in fact , very shockingly/sadly , the s/p has decreased considerably as the resource prove out progressed thru 21 and 22.
So I'd now prefer see a pivot towards a slower / less costly drill programe going forward for say a year plus here.. unless the market pushes this share price back up to more fair and reasonable levels during that time, when another raise and a the speeding back up of drill program could be considered.
PS: I have gone from approx 120,000 shares peak holding here previously to 40,000 now.. so I absolutely have put my money where my mouth is here.
Also , in spite all the happy clappers and lnd.l management bullishness here, the share price is the benchmark the game is played against, and not only has this one been shamefully low for far too long, sadly, it's has also now - frighteningly more than sadly - moved into a fall as the the resource grows out mode : Not at ease clappers
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