Member Info for Vernony

Oh it will always sink if there is no news. The company is sound, in the long term it must go up, but the market skimmers will always be at work meantime

Surprised they are worth that much.

Thats better on the RNS. Don't like the only holding being gold which is subject to seesaw. Anyway the RNS has given me sufficient confidence to put them in amongst my ISA shares. I don't need to make an immediate profit. My ISAs are spread out with an anticipation of 1-3 years 3-4 years and 4 to 5 + years. With Merlin and Harry Potter's help they will steadily produce, mentally pencilled in to yield in 3-4 years time, earlier if a partner emerges

Well actually, they may have set up LEN as another company, but as I understand it LEN is still owned, overall, by LRL. So they do have an asset there. On current performance I am banking that LRL could dispose of LEN and use the cash generated to do something, if they wished

I have looked every day, and I don't see these profits you advised we could look forward to and castigated me for failing to believe in . They still seem to be going down ! Anyway, I would suffer too much of a loss to sell now. Have to grin and bear it . Miracles take a little longer, so they say : ))

Oh I think that they have a 50% chance of pulling it off, (and , of course I am invested here too, but for the same reason that you seem enamoured of the 3 million dollars (a drop in a financial ocean) and a new director . I operate in counter balance to your , what I believe,is your over optimistic style. The share price tells you what the financial world think of LRL ( and its been going down, not up as you say) . They are not in a position to do anything at the moment without a backer , or capital. You can do all the research you like, but there are probably 200,000 employees of financial institutions and investment analysts out there. They work 8 hours per day all around the world. If you know more than them, and employ half a dozen fund managers at over 200.00 per year (with bonuses of up to a million), then perhaps you could explain your views on all the shares everywhere, and we will make a bomb ! I want them to succeed but it is going to take some time

Mistype they have, or rather had $3 million

They certainly do not have any money to develop anything, at $3, they must be scraping the barrel just to pay themselves. But, they can still borrow, if they have something that interests financial investors. I think they are still the overall owner of LEN though, so there is some money there ?

Well that the art of creating an RNS out of nothing at it very best In effect:- They have no track record of note, at present. Financially:- Being in a strong position with $3 million , is not a strong position in the mining industry. One wonders why the put this RNS out at all

Spot for gold this morning shows highest 1374, lowest 1372, currently trading at 1372.50 , up and down like a yoyo.Crimea bound to have some affect, as the more panicky worry about currency

I agree with you .Their long term plans (but they have not announced any) will be years away from fuition. But, if they announce something, the sp should temporarily rise as the market digests the news, so they will sink again. So its get out quick if the sp moves upwards by even a few pence

How is the newly appointed director going to earn his extortionate salary . Don't blink !

Oh right. After the events of the past few years , I wouldn't have thought much trust can be put into the financial sector. What with sub-prime, libor, mis-selling insurance cover, RBS, Lloyds, and the Co-op. The indications are that they need a regulator beside them every minute of the day

One can only hope that he is worth it. I seem to recall back in the 60s of consortiums forming up to bid for contracts, once they got the contract they would go bust. It was a scam, the contract enabled them to take massive loans, which in turn was used to pay high salaries. When they went bust the consortium dissolved and because it was not a company anymore, there was nobody to prosecute. However, for about three years some people enjoyed a good salary ! I think that they are more careful these days

Yep, perhaps they are trying to spook the market and get us all to panic sell : ))

So the new director will have a salary of nearly 20% of the entire company cash. Other directors and staff will bring this to at least 80% of the entire company cash. So unless something happens, they are going to be out of cash in one year. I have great hopes (and indeed brought in , in a minor way) that they must have a plan B and they are working on it. As for suspension please see below. Definition of 'Trading Halt' A temporary suspension in the trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct an order imbalance. A trading halt may also be imposed for purely regulatory reasons. During a trading halt, open orders may be canceled and options may be exercised.

I feel, also, that they are getting pretty close to being suspended. I recking rule of thumb its a 20 to 80 percent chance that my 100 will having me laughing to the bank

I just brought some of these, against the trend, but I feel that there must be a cunning plan somewhere that I cannot see. I only risked 100 Pounds. still netted me 10,000 shares. Can't be bad if something happens

Oh they barely have enough money now $3m to pay their own executive and staff salaries. Their only asset is LEN, which has not turned up much so far.( LEN itself now has thousands of new shareholders, most of whom have never purchased a share in LEN) . I'm afraid, to my mind, this company does not add up at the moment. They seem to be into making magic money at the moment

Well said Morphine 'simpiels' :))