Member Info for rosetintedspecs

I hear you Boracic, throwing caution to the wind is never a particularly good idea, especially in a business like this!! However, the old Tanzanite one days are behind us now, I have to admit, I was never a shareholder at that time, I understand it was very painful largely due to extra legal occupation by illegal miners encouraged by the Tanzanian government.

In the end, it is the nature of any new deal and the price that is going to decide whether the there is good value for shareholders. We can only wait to see what announcements are forthcoming. But at least we know that the cash just raised, is largely going to be applied to the properties we have under our control. Just thinking about what these things may be, I recall Iptuf waxing lyrical about a couple of mines very close by, Jericho hill, Hoover Hill etc., and others, that were worked on recently by Revolution and Orford Mining. There were some links in that message with a lot of detail. That would make lots of sense as they could all be managed in the same way as Haile, which is NOT one single deposit but a group of them.

All very thought provoking stuff. All will be revealed.

Have to say, I am with you on that Ham. Seems the market has taken this very positively, we're in price positive territory for the day now. Hopefully we'll be testing the recent highs later and the 6.50 level of last year soon after; and then? Who knows!!!!

How do these guys do it? Well we know that there are some seasoned pros running this company, but in April they raised a 350kGBP convertible at 3.2p/share, a 15% premium to the price at the time!! Now they have done what looks like a GBP500k private placement to at a 13% premium to 30 day VWAP and a tiny 7.8% discount to the mid point close last Friday. Not only is the price demonstrating that they have a good following of high quality and very supportive shareholders who are not just looking for cheap stock, they are in for the long haul too.

Pure Ice is there too! Expect TR1s in the not too distant future there.

Obviously, capital raisings and dilution is not everyone's flavour of the month, but the pricing here means the dilution, as per the RNS is just over 3%, nothing in the greater scheme of things. Management is also beginning to flesh out its plans.

1. Get the JORC for Jones Keystone out, still expecting 100k oz, hopefully more,
2. Exploration reserve for Carolina Belle
3. Plan Drilling program for JKL next phase
4) Start work on trenching etc at Jennings Pioneer near that old Barite Hill mine.

However, to me, the most interesting thing about this is that management are saying that the success they are having in a relatively "unsexy" area (the Carolinas) has led to opportunities coming their way. "Ongoing due diligence, evaluation and negotiations regarding the potential acquisitions of additional gold tenements and gold projects, both in the Carolinas as well as other well-known major gold producing jurisdictions" is the way they describe it.

So what can we take away from a statement like that? Well 1. they state that it's gold prospects.... 2. Some of it is in the Carolinas, and we know that there has been quite a bit of renewed activity in the area.... and, most intriguingly, 3. in "other well known gold producing jurisdictions. Where could this be? Given the CEO's nationality and the Chairman's long association with Southern Africa, you'd have to bet that outside the USA, its in that neck of the woods. We also know that there is "ongoing due diligence", indicating that a deal is actually in the works! you don't spend money on due diligence unless you are pretty sure that there is something out there worth having....

And so the plot thickens, it seems that LEX has a few tricks up its sleeve. Could be a very interesting run up to Christmas and the New Year!!

Profit taking. I wouldn't be doing it here. I am buying in the last half hour. JORC announcement VERY SOON!!!!! Keep the faith!!!! We're taking a breather here, which, having gone up 40 odd percent in the last couple of sessions is well deserved.

Very strange, not sure if you noticed the MMs but up the offer from 5.3 to 5.8 AFTER the market had closed. Last trade was 5.3. Odd to say the least though it indicates that the MMs must be short. They're afraid of selling stock even up here, and not much natural selling has accompanied this move up. It's very tightly held..

Interesting thought, a pound a share... It did trade as high as 2 quid a share in the Tanzanite 1 days, but to get there, we'll have to have a pretty massive upgrade in the amount of reserves there. I'm sure there is still plenty to play for at JKL but the interesting one is Jennings Pioneer next to August, Georgia, which is right next door to Barite Hill which was mined on the 90s until the owner went bust... Sons of Gwalior I think...

Anyway, I'm pretty psyched up for the JORC announcement but to get to a quid a share we'll need something else thrown into the party... The stock is moving on anticipation of the reserve announcement. Bring it on...

I've been hearing similar stories from my broker about the MMs being short.. I'm expecting a bit of consolidation at these levels before we resume the upward momentum, but there is not much chart resistance at all in this area... Looks like we'll be testing the 2021 highs at 6.5 soon...

Chart turning positive if we are closing around here... JORC at JK just around the corner... Tension rising? This thing looks like it's getting a few legs.. All the chunky trades so far were buys. Only small junk sells. Someone's picking it up.. Stick with it..

Got it. Tks Flops. My broker calls the MMs. They can usually get quotes in 100 to 500k. Any you can bargain with them too.

Agree with you Ippy. Using a real broker to talk to the MMs is the real strategy on small AIM stocks. HL maybe good for HSBC and Shell, but they don't have the first clue about stocks like LEX. Anyway, as an aside, we have the maiden JORC of up to 100Koz to look forward to. My hope is also that CEO Bernard gets a bit strategic and let's us know what the plan is for the next phase. I am hoping we stick to JKL largely as we know that both are open at depth and along strike and represent that fastest and most certain way to add shareholder value rather than drill Argo let's say!

After the JK JORC, we will have around 200K of open pit ounces. Romarco sold out for US$350 an ounce in 2015 when the gold price was $1,200/oz. Given the undrilled anomalies and the fact that the JKL prospect is still open everywhere, I am hoping over the next 18months or so, we can get up to 500Koz of JORC reserves. And then we still have Carolina Belle and Jennings Pioneer with potential to give us upside.

By the way, forgive my ignorance, but what is "NT"? Can anyone put me out of my misery?

Heaven's above, that has taken its time. Better late than never, but three excellent holes at JK:-

1. with between 28 and 50m of gold bearing zones,
2. Grades of between 1.09 to 1.38gms/tonne
3. All near the surface, closer than you think because all the holes were drilled at an angle.

But the most important thing about this is that the door is finally opened to getting a JORC resource for the Jones Keystone deposit. Note that like Loflin, the deposits are open along strike and at depth to the NE and SW. And as my our co correspondent Iptuf is at pains to point out, there are other geophysical anomalies to be drilled close by. All encouraging stuff.

CEO is expecting 1. A maiden JK resource of up to 100K/oz, in addition to the 83K at Loflin already declared. 2. All this rock is very close to the surface and therefore can be accessed by open pit mining, similar to Haile and the two deposits (and undrilled anomalies) are close enough to be handled by the same plant and equipment when development takes place, bringing down costs per ton.

Can't wait to see the JORC which, if Loflin is any guide, should be available in a couple of weeks. Price has been strong in the last couple of weeks, we're close to breaking out of the resistance at 3.75 area. Hopefully finally leaving the 3's for ever and heading to the 5's and 6's!!!! And all the time looking forward to the reserve announcement soon.

With u all the, way Ippy. We're testing that resistance at the 3.7 Mark... Get through that and we should be heading to the mid 5's. And yes, we've still got the 1m assays and the JORC to come... Bring it on I say..

Brexit was a con. As to bureaucracy in Europe, its generally believed that we have way more homegrown bureaucracy than than the EU ever had. We seem to forget that.

Well we're overdue some 1M assay results, and obviously the JORC reserve for JK. And yet the stock price is holding up and even picking up on what appears to almost paper thin volume! 50,000 shares is all it took for the MMs to raise the offer by 0.2p, and widen the spread so much that it looks like you can drive a coach and horses through it!! They must be frightened of something! And we still two more RNS's to hit the market, hopefully very soon. Last time we saw a decent move on the Loflin announcement, looking forward to the JK news.

Technically we're beginning to look a bit stronger, resistance at 3.45 being challenged. Hold on to your hats, we maybe, at last, on to something here.

And Iptuf, checked out your links from last week, very interesting. I can see the anomalies at JK you are talking about to the South East. They appear to be much bigger than the one at Loflin South which we have proved really exists. Not sure where that Homestead one fits in....

U talking about the Homestead stuff Iptuf? Perhaps, ever so quietly, they are picking up the mineral rights in that area. But looking forward to the next RNS.

The 1m assays are due anytime now, but I doubt the JORC reserves for JK will come out simultaneously because the JORC consultant will have to plug the 1m results into the model they have to make the estimate. I'm pretty sure that they have a good idea of what is going on underground, but the 1m assays will enable them to nail down how much gold bearing Rock there is more accurately, hopefully giving us a better result. Let's see. All will be revealed..

Absolutely, behold, the iceman cometh.. He or she is probably laughing gravy seeing more than 1% of the company come up for grabs just before these announcements.. Which I'm thoroughly looking forward to seeing...

Yes, I'd agree with all the below. Pretty much for sure it'll be a block trade negotiated by a broker, probably in house.. The important message is that there's someone out there prepared to stake £83k on LEX.. I think we'll be seeing a TR1 in the next few days... This is all beginning to look interesting and we've got the 1metre assay for Jones Keystone coming up and also the maiden reserve estimates...

Woww!!! So an AIM listed junior miner catches the eye of WH Ireland,, one of the top brokers in the UK. This is quite interesting. At the moment Peterhouse were the brokers but they do not have any research capabilites... WH Ireland is a completely different animal.

1. They broke to institutions

2. They broke to high net worth individuals

3. They write company research which is very widely a) respected and b) widely distributed

4. Should LEX need to raise capital, as is inevitable at the current stage of it development, this opens up many doors.

5. They also have a discretionary fund management unit that can, if they like the stock, be deployed to buy LEX..

This takes LEX significantly up in the putative pecking order of AIM listed stocks and as things go, should be welcomed.. I am looking forward to seeing some research emerge in the not too distant future... Basically we've upgraded from a Ford to a Jaguar..

Iptuf, I'm with you on all the provision of extra details, but in the last RNS we could see where the new Loflin South is, there are 2 of them on the map, but they are more like East South East in fact to the main Loflin. But never mind.. I think that they'll be reluctant to show where all the anomalies are because they don't want land owners in the area to get their prices up, unless they've secured the mineral rights already.

Anyway, we can at least hope for guidance and hopefully, someone in the company will be monitoring this site and picking it up!!

Pity about volume after the announcement though. Mind you, loads of players are on holiday.. They'll be back soon... But lots more news to come yes.. Confucius, he say "May you live in interesting times"! I'll drink to that. Cheers..