Member Info for rosetintedspecs

Woww, Pure Ice at it again!! Missed the RNS last night on this. That explains the big volume we saw in the middle of last week!! More grist to the mill. Adding another 1.3% in a single day. That's sending ever such a not so subtle message to the market that things are looking good for this stock. Always good to see major holders topping up..

And to top it off, we've got the maiden reserve to come hopefully later this week, and the commencement of drilling next. Not to mention the flood of annnouncements to come as the drilling results from 50 odd holes coming up between now and Xmas... Stroll on LEX. Its all happening.

Try www.rcdrilling.com is one site, but nearly everywhere they say RC drilling is 25 t0 40% cheaper. Its faster too. That alone is worth money if you are a public company. There's loads of stuff on line. Search "RC drilling cost benefits" or "RC drilling costs" for instance.. Happy searching.

It's been a couple of weeks since the last but one update via RNS for LEX. Me thinks that we're due for that Loflin maiden reserve announcement. Interesting to see how the stock reacted post the bad news, about drilling delays. Good volume too in the wake of that. This stock is taking everything thrown at it on the chin. That volume including a 2,000,000 share trade could indicate we've got a TR1 on the way...

Let's see whet the new week brings... Confucius he say "May you live in interesting times". Very wise man that Confucius bloke so I am told!!!?

Woww. Someone's bullish.. You know what they say, every picture tells a story. This picture is petty bloody clear. Someone just bought almost 1% of our company.. I wonder why.? Plus the 250k trade at the close yesterday... Hmm.

How the hell would I know Mark? Contrary to your suggestion yesterday, it appears that I do not have any relationship with LEX, otherwise I would not have said anything like what I said yesterday. Having Said that, we'll, what's 2 weeks between friends? Really? Yeah. Good on the 29th. So it's say the 30th.. But they are still drilling the same, holes, or even better ones given the delay.

Buy, Fill Yr boots, pick it up, how much more can, I say..

This shd read $700,000 to 800,000 not 700 to 800

Mr. Long, not sure how to take that, but I'll assume as a compliment. All the assumptions I've made about costs of drilling and assays etc are all available on line. The cash figure came from the balance sheet numbers just released... I have been involved in financial consulting before, which helps you to know your way around. You just dig around a bit on Google and there's so much stuff out there. But nearly all of what's in my post this morning is in the RNS releases over the last couple of months..

It's not rocket science. Anyone with half a brain could put what I put together without being an employee.. Just takes a bit of time..

There's a lot of information in this half yearly financial report. The most important number is $2.1mn of cash. That's plenty of drilling. My guess is that even if you include the processing and analysis of the 5000 metres of material drilled, you are looking at around $700 to 800 of cash expenditure. This goes to prove the lengths they are prepared to go to get value for shareholders. Why spend the cash on diamond drilling when you can get RC dor 60% cheaper..!! And they are brining the machine in from Canada.

This means there is still quite a bit of cash in the bank for further drilling depending on what the just about to start program brings up. Don't forget also that RC Drilling is not only cheaper, it's faster too. This program is likely to take a couple of months to complete rather than 4 to 5 months with diamond drilling.. That means we may start to get drilling results in late October early November.

So we've got lots of news to come now. 1. Reserves for Loflin. 2. Start of drilling program next week, 3. Drilling in JK., 4. Drilling in exciting new prospect Carolina Belle, 5. Reserve announcements for JK 6. More infill drilling on Loflin to expand the reserve; and more.

That's lots of announcements between now and the end of the year... May the next upward leg of the LEX bull Market begin. All the elements are there. Don't forget that all the punters are back off holiday now and reading their news feeds.. Feeding frenzy on the cards?

If you're flipping burgers, you'll need more than 5700 shares of LEX to change your life. 570000 may help. I can see this going to a quid a share, depending on drilling outcomes. Look at Haile!!!

Yes. Looks good, I hope the resource estimate will look good too fm Loflin. Looks like nothing fm JK yet. Suppose that's why they're drilling there too. If you recall fm the pathfinder and mineral rights announcements, there are anomalies to the NE, SW and SE too at Loflin.

But Carolina belle looks like its got huge potential. Just think, they pulled out 50k ounces in an old mine with stopes. The only reason they stopped was a territorial dispute, not because the gold ran out. And they've found some more anomalies close by that they want to drill. If this is all connected, we could be looking at a monster.

And guess what, to add spice to the curry, we've got the same driller as does loads of work for Haile. Also, RC Drilling is much faster and cheaper than diamond drilling... If the samples flow fast, we could be looking at the first results late October.

I'll drink to that. Keep the buying boots on..

Ohh yes, and forgot to mention that the BOD really has a great track record in this business. Anyone who thinks you can be in this for up to 50 years and get a 100% track record is smoking something seriously wacky...!! Olivier, Nealon and Sturgess have worked together on and off for 25 years. Aquarius Plats? Sylvania? And more.. Why to humans tend to follow the negatives, even tentative ones, when the good stuff is staring us in the face!!!!

Buy buy buy before the hordes come back off holiday...

Not sure why all the rehashing of the past. I suppose it's just a product of boredom over the summer holidays, which, thank our lucky stars, are almost over!! Whatever happened with sapphires whick was before my time, the CEO from this day's has resigned and is no longer even on the BOD of the company. I'm sure he's cheering in the background as he has a few shares!!!

Instead of carping and listening to the opinions od financial journalists who love to muck rake, perhaps we should be looking at the positives here.

1. First World jurisdiction.
2. Surrounded by excellent infrastrucure.
3. 6 prospects.
4. Expanded mineral rights in exciting prospect.
5. Successful initial drilling program.
6. Resource announcement pending for the 2 resources at Jones Keystone and Loflin.
7. New drilling program about to be announced.
8. It will be designed to specifically expand the twin resources at JKL.
9. The rest of the program will be focusing on Carolina Belle, virgin drilling territory, but where we know thay were mining grades of 10g/tonne in early 20th century.
10. Prospects of excellent news flow between now and the end of this year which will drive the stock price...

Oh prophets of doom! Disperse forthwith and prepare to lick thy wounds in a few weeks if thou art short the market! Pray, even change thine stance to long and profiteth therefrom thereby enhancing thine riches!!!

That's a rather odd opinion. I always thought he resigned AFTER the Tanzanian government effective nationalised the asset by stealth. Where do you get the idea that he "ran RLD into the ground?" you also seem to convene tly forget the other gold mining ventures where he's proved up a ton of JORC compliant resources?!

Are you short the stock if I may be so bold as to ask?

Aquarius Platinum was also a junior when LEX chairman joined it in the noighties. It went fm 20mn dollars mkt cap to 4.5bn. Not bad...

Oh ye of little faith!! Stop carping. Get yer buying boots out.

Interesting idea. Yes we are a peanut in the greater scheme of things and it would be chump change to buy us out. But, the problem is that the majors like scale and after they have added their head office overhead to our site, its almost guaranteed to be uneconomical unless we find a minimum of say half a million oz with grades in xs of say 1.2g/oz. Smaller operators can make use of grades and sizes lower than than that, down to 0.5g/tonne.

I did a discounted cash flow calculation recently on a putative reserve of say 300k oz at JKL (who knows what the real numbers will be after the next round of drilling) and a gross margin of $1000/oz. Given our reserves likely are close to the surface they are cheap to mine, it may take say 7 years to mine it out. Using a 12% discount rate, the net present value with such assumptions is 92mn quid. That compares with our mkt cap of 10mn. 92mn quid is 36p/share.

This thing is a steal. If we hit paydirt in Carolina Belle, God knows what would happen to the share price. I'm hanging in there. Y'all shd B 2. Fill yer boots!!!

I think the good old expression "pigs will fly" comes to the fore when considering the liklihood of the BOD running off with the loot. Their history alone indicates they have impeccable track records in the mining industry. Sylvania, Aquarius Plats etc..

My guess is that the work still won't be finished for at least 5 years. 1. We are still adding reserves to JK&L. That's at least a year or so depending on the size if the ore body. Don't 4get, the just bought mineral rights to 125 acres or so, that's plenty more drilling!! 2. Just about to start drilling on Carolina Belle, which to do a good thorough job on will take 2 years minimum even if it were to be a bust. 3. Then we've got Jennings Pioneer which, aside from the old Barite Hill workings a few hundred yards away, hasn't been properly explored. Who knows, we maybe on the inside track to get hold of Barite. That could be exciting..
And more exploration work.

So my guess is that we need at least two to three years to max out the exploration potential of what we've got and potentially have one or more of the assets in our hands for sale. So the only negative here is that we'll need to raise some cash to continue the work on site. That will likely happen 1H next year after a fistful of announcements of reserves in 2H this year. I'm biding my time with this one. Speculating, at this stage, that the BOD maybe a bunch of crooks, is, Mr. Long, a tad far fetched, don't you think? BUY BUY BUY.!!!!!! This'll be at 15p by Christmas. Fill yer wellies....

Well well well.. More large trades today, and unambiguous buys all of them 500k shares close to 4p following a busy day testerday. MMs ticking this thing up. And as the previous correspondent has mentioned, lots of news, re reserves, drilling etc etc., on the way. If we can keep this momentum up during the depths of the summer hols, imagine what things could be looking like when the good news, starts to flow next month... Buy now, or forever hold your peace... Seriously. Everyone's asleep at the wheel. This is a no brainer.

This looks like a cross, one related acct to another.. Still plenty to look forward to. Drilling announcements, reserves X 2. Wish these damned summer hols would get on with themselves..

Bloody hell, the suspense is, killing me.... Not! Were well and truly onto the summer. Everyone on hols. However, 1) we're expecting an announcement re drilling contractor. 2) were waiting for a reserve announcement. Have to confess wish they'd save the announcements till people are back at their desks!!

Seems to me these guys will be happy to hit a Haile type of deposit, but they are slowly and methodically working thru JK and L for the maiden reserve announcemnt. I'm also excited about Carolina Belle!! Rock chip samples of up to 17g/tonne? And the formation comes up to the surface in an area that had 2 producing mines rumoured to be 10g/tonne

Lots of excitement to come.. Can't wait.. Those with spare cash should be using this period to pick up stock. Problem is getting size is really tough.. The MMs don't want to be further short..

Hmmm.. Mali, half the country is controlled by Al qaeda.. Interesting, but very high risk...