Lydian International Ltd T.LYD

RE:What can one say?

[rationalinvest]

That was brutal. Multiple Dundee crosses at different prices and anonymous hammering it in between.

I spoke to the company. No news. I bought some more. Just what the doctor ordered, I guess. Probably still some overhang from the financing. Maybe someone getting impatient with the price action. Majority of shares are tightly held now with Orion, RCF, Franklin Templeton, and others.

On a fundamental level we're now trading at 0.32x NAV or so, which is utterly mindblowing heading into production. Share price was already lagging severely with gold ramping up over the past weeks. But it got even sillier today. Armenia isn't Canada, but it's actually member of the Council of Europe. And it's the first state in the world to adopt Christianity as its official religion. It's not some crazy country.

It's just weird to watch stuff like First Mining go up like crazy on high volume, while we actually have a fully-financed, fully-permitted highly economic project here getting clobbered. Which would still make decent money even if gold would pull back to below $ 1,000, contrary to the uneconomic leverage plays. I think gold will move higher from here, but with this margin of safety we're looking at un unbeatable risk/reward. But hey, if everything would always trade at fundamental value, it would be very hard to make money in the markets...

I agree we now have to watch out for some lowball offers from companies that can use their own expensive paper to buy some nice growth in ounces and cash flows a few years out with LYD.

Good weekend to all.