LRL - Leyshon Resources

[rub92me]

Big buy order of 500,000 shares at 0.74 has kept this up (although a large chunk was taken out yesterday just before the close) and not many sellers. Volumes likely to remain low until the revised JORC. A bit of consolidation is always good, and if it does jump it will provide good support going forward.

 

[rub92me]

I'm getting a bit miffed with this lot. Revised JORC was promised in february, and they've been sitting on it for more than 7 weeks now and we still haven't heard anything. I guess I'm not the only one, so share price has been sliding. :bad:

 

[Sean K]

I'm getting a bit miffed with this lot. Revised JORC was promised in february, and they've been sitting on it for more than 7 weeks now and we still haven't heard anything. I guess I'm not the only one, so share price has been sliding. :bad:

Yep, I agree with those sentiments, and no update to explain why the delay.....Maybe contact the company.

 

[Sean K]

Revised JORC out. 1.73m oz au equiv. Significant upgrade. I was thinking 2 might have been good, so not sure about this. Let's see what Mr Market thinks...

 

[rub92me]

They must have heard us. I was hoping for a bit more too and it doesn't seem to wow the market either... Oh well, still a good hold at the moment as long as it doesn't slide any further.

 

[Sean K]

Not many buyers out there Rubme... Concerning.

Any thoughts?

 

[rub92me]

Back to very low volume trading again. It took me a couple of weeks to buy in the parcel at the price I wanted a while back. If you have more than a handful of shares, then it will be hard to get rid of them at this point. If you want to unload, patience is required. More drilling and possible capital raising ahead in the next 3 months (from May) will hopefully get this going again. On the backburner for now...

 

[rub92me]

Added to my position recently below 50 cents. Thin volume is still a concern at the moment with this one so no good for short term trading. The last couple of days finally saw some interest again, but today all sellers have disappeared. Bids at 49 cents and 2 small sellers at 75 cents and 85 cents. That's a 50% gap between bid and ask! It probably won't start moving for real until 2008 when we get closer to mining. Could get a bit volatile in between though if we get some jokers buying small parcels at market at this stage .

 

[kiwiloe]

LRL has been showing signs of life these past few days. Aussie market following London it seems. Last night finished at the equivalent of AUD$0.74 on AIM , so hopefully Aussie market will continue to follow.

Certainly was a steal round 50 cents, glad I took another bite

 

[daggs]

bought in today at .645 expecting a bit a run leading in to production.
Anyone still holding this?
I noticed previous posts mention the lean sell side,is this normal for this stock, Shares up for grabs now (120,000) are less than todays total traded volume (13700).

 

[daggs]

Just had another look at the market depth and the big seller just pulled his 100,000 shares from sale. only 20,000 shares left on the sell side!

 

[evwatkins]

so what are peoples thoughts on LRL, im interested in buying in

anyone else watching this little fella lately?

 

[rub92me]

Still holding, most of it bought over a year ago. Typically would expect this to appreciate in price once they get to production but expect some wobbles on the price because it is tightly held and very thinly traded. They have a lot of prospective ground at it is early days yet.

 

[rub92me]

Have been out of this for quite a while now, but still watching closely.
A major shareholder dumped 5 million shares yesterday, dragging it down to 6 cents. Economics of their project look fantastic: average production cost of USD 250 per ounce. Obviously they will need funding (about 60 million) to get it up and running and 'the market' seems to be pessimistic about their chances. I think their chances are actually better than most in a similar situation, because or their close ties and cooperation with the Chinese. Playing it safe however and waiting to see what will transpire.

 

[Sean K]

In an environment when punters are supposed to be turning to gold, this one is a total failure. I really can't understand why they are trying to sell it now. They said they were going to wait till Apr 09 to restart machinery so expect an ann shortly.

In the Sep Q they were pausing for the winter and to save some cash but had every intention of taking it to production. Then the Dec Q the lights are out and they want to sell the project. Why? They have 1.7m oz au equiv and have been ramping all the great benefits of the project for yonks. $250 cash costs, infrastructure, cheap labour, supportive community and government. Something on the nose with this turkey.

224m @ .08 = $17m mc with 1.7m ounces equiv! Crazy!!

Probably a bottom in the chart here, but they're running out of cash I think. If no banks come to the rescue, or another company take interest, then they could be headed for the grave yard.

 

[lazyfish]

In an environment when punters are supposed to be turning to gold, this one is a total failure. I really can't understand why they are trying to sell it now. They said they were going to wait till Apr 09 to restart machinery so expect an ann shortly.

In the Sep Q they were pausing for the winter and to save some cash but had every intention of taking it to production. Then the Dec Q the lights are out and they want to sell the project. Why? They have 1.7m oz au equiv and have been ramping all the great benefits of the project for yonks. $250 cash costs, infrastructure, cheap labour, supportive community and government. Something on the nose with this turkey.

224m @ .08 = $17m mc with 1.7m ounces equiv! Crazy!!

Probably a bottom in the chart here, but they're running out of cash I think. If no banks come to the rescue, or another company take interest, then they could be headed for the grave yard.

I can not comment on why they want to sell their only asset, but would like to point out that after settlement the cash backing per share would be ~24 cents (see last ann). Sp is currently sitting at 13.5 cents. There's always the risk of the deal not going through, but is such a big discount justified?

 

[lazyfish]

All cash has been received following the sale. Free cash (after withholding tax) stands at 22cents each (see latest ann). Current sp is 16.5 cents.

I intend to use this opportunity to unload

 

[matty77]

back on the radar, anyone have any thoughts on this stock?



lengthen the post otherwise it is too short.

 

[springhill]

Who says one man's trash isn't another man's treasure?
http://www.asx.com.au/asxpdf/20120627/pdf/4272bn4g16r25n.pdf

Leyshon Resources Limited is pleased to announce that it has commenced a drill and test work programme on a large stockpile of ball mill scats at its wholly owned Mt Leyshon Gold Project in Queensland.
The programme is designed to follow up a number of previous studies which have shown, that depending on the treatment route selected, between 100,000 and 175,000 ounces of gold can be recovered through the retreatment of the highly mineralized material.
The material was stockpiled at a time when gold prices averaged around US$300 per ounce and the most recent of the previous studies was based on a gold price of US$780 per ounce.
The current programme is expected to show that at current gold prices in excess of US$1,500 per ounce, retreatment of the stockpile will generate a strong operating surplus.

The stockpile comprises approximately 12-15 million tonnes of highly mineralised ball mill scats.
One option provided for in the closure plan is for the scats to be reprocessed. A study in 2007 concluded that treatment of the scats could produce approximately 100,000 ounces of gold and at a gold price of US$780 per ounce would generate an operating surplus of $25 million before capital.
Management has also conducted a review of the status of exploration of the 25 km² mining licence at the time of the mine’s closure in 2002. The results show that although extensive work was done there was no follow up on some very interesting results due to the prevailing gold price of around US$300 per ounce.

LRL have also been participating in a share buy back.

They have 246m shares on issue with $52m in the bank, making the cash equivalent to the SP. Suprising!

On my numero uno watchlist.

 

[springhill]

LRL placed into trading halt regarding a proposed acquisition.

Cash position $50m, MC $42m.