RE:RE:Don't get me wrongI am hearing the exact same reasons for insider selling when the shares were 18c. Go figure.
Again when Melrose sold at 11c, the SP quickly retreated to 8c. Again, too me Insider selling is no trivia episode.
"Promotion". According to financials Lico spent $1.6 million or $135,000 per month on Marketing and Communications. Are you kidding me, Lico needs more hype????, recently they did 8 news releases in 4 days to the point of nausiating. They should get down to the business of the share holders. That money wasted on "Promotion" as they got exactly 0 back from it could have been used to finance phase 2 drilling.
At the end of 2017 they had $1.2 million cash, subtract the $400,000 for tetidine and cash burn for 4 months including the ridiculous "Promotion fees of lets say $100,000 per month and there cannot be that much left in the kitty IMO.
Who knew that stockhouse charged so much to self-promote.
They need financing not just for Phase2 drilling, but just to stay afloat or they will suspend drilling operations. They are desparate and financing will not be cheap.
Glencore, hear so much about that, but if anyone bothered to read the agreement, Glencore gets back in 8-10 years if production from now no matter who owns the property whether it is Lico or" Ironship Holdings". Lico Management was playing checkers while Glencore was playing 3 dimencial chess. Do not expect Glencore to lift a single finger to help, why should they, let someone else do the heavy lifting.
I am waiting for financing which always comes in at lower than current trading. Lico is desparate and a nickel would not surprise me.
Why buy when insiders are selling, wait for financing.