RE:Iron are you so sure ...or ?Commercial Grade- Does not matter how one looks at it LiCo was forced to Reatract any mention of Commercial Grade. PERIOD.
Financial Backer- Could be Melrose for all I know, but Glencore does not make sense.
From the April 4th news release Lico PROPOSES to Drill 4000m on Bucke with the intent of completing a 43-101 compliant resource estimate. This tells me that by the time they do Financing, Phase 2 drilling and work on a 43-101, we are well into late 2019 before they can approach Glencore with a minimum-in-situ value of 100million or more from which mineral can be FEASIBLY EXTRACTED.
Also 1500m at Teleyne.
WHERE IS THE MONEY COMING FROM???. By my calculations, there is not much left to even run dy to day operations.
If they go to Glencore with a cam-recorder, they would not even get past the secretary on the main floor before security escorted them out, let alone access to the upper floors.
PLAYING CHECKERS- From the March 5th Glencore Agreement.
"The purchase agreement includes a back-in provision, Production Royalty and a off-take agreement in favor of Glencore.
IT Painfully goes on.
"Purchaser(Lico) grants to the Vendor(Glencore) a 51% interest in the property or it's nominated affiliate an IRREVOCABLE, SOLE and EXCLUSIVE RIGHT to aquire from the purchaser a 51% interest in the property right FREE and CLEAR of all BURDENS of any NATURE or KIND."
WHO NEGOTIATED THIS???. The same Circus Monkey who planned there exploration program.
In 2017 they spent almost 2,000,0000 dollars on Promotion, (Some people call it Pumping) and only 2.5 million on actual exploration.
Seems to me that the Business Plan (if they even had one) was to get the SP higher for either a takeover by now or financing at much more favorable terms to Lico.
Fair enough, but instead of bearing down and getting to work, they spent there time and money paying stockhouse, breathless stock halts and pod-casts.
Until they were forced to, they never mentioned that they were just confirming historical data, Glencore was and is not there partner.
The promotion program failed miserably.
That is a catchy name LiCo I get it) except the two have absolutely no synergies. Another inexperienced and costly mistake.
Anyways, this is entertaining at best, and a sad joke most sof the time.
LiCo is in turmoil(internally), now actually is forced to act a a real company, they need to get there sh*t together and GET TO ACTUAL WORK.
Ironships Plan.
Patience is the key here. No reason whatsoever to buy now. Wait for financing and by who, see what direction if any the company is doing going forward, (Not throw darts hoping that something will stick.)
Best case scenario for Ironship, LiCo gets taken out at around a nickel by a Company with know-how, experience and a track record of actually getting things done.
You guys should take what I share on this forum as a Learning Experience.