RE:Mr Iron, has a challenge....Had some spare time anyways.
Lets cut too the chase.
A successful Jr needs solid safe financing from a reputable Institution or Bank.
In my mind three things are vital to achieve this.
1- Have a great property that will be your flagship, 1 property that you concentrate on and totally focus. (I have mentioned this on several occasion 1 flagship).
2- Have clear precise objectives with a clear precise business plan to achieve these objectives.
3- Have key competant personell in key positions to excecute the "Plan"
Those 3 things will get you well on your way.
Depending on retailers for financing at this stage defies all logic.
Was spending 2million dollars to advertise on stockhouse really part of the business plan.
Why have they waited until now to get financing, thewy couldn't see this coming.
I used to get infuriated when companies got financing at lower prices than the SP.
ECS is a good example, they had 15million in the bank and then went to the markets for 30 million more(45million). You know why, because they could, they went to the markets with strength, now they do not have to worry about anything straight to construction. All those little details are taken care of.
Lico is now is that precarious position of extreme weakness going to the markets at it's 52wk low. And they are desperate for money.
The one thing I cannot understand is why Glencore does not back them so far anyways. What is going on. This should be an easy fix. I would appreciate an answer as it makes no sense to me.
Chaos, 2 TOP POSITIONS gone in less than 3 months.
Could I do better, I don't have to, MANAGEMENT HAS TO DO BETTER. Did you invest in your money in me or in Lico's management ability to execute.
Negativity, Maybe, I always try to find reasons not too buy and then I turn around and try to find reasons not too sell. Insider selling, hype, finances all play into this. I asked several questions to myself at 18c and with Lico I am still asking those questions at 8c.
The market is the market, Jr Miners have it the worst by far, there is no value placed on proved minerals in the ground anymore. Just how it is now for whatever reason.
The 300,000 share wall at 9c are probably some retailer who bought at 8c. That precisely sums up what is going on with Lico.
Any good news at all will get nothing for Lico as pertains to SP
They need to get financing and soon, I see no other way forward for Lico. For me, at what price and from whom.