RE:I must say...Iron...Yeah, your right. Lico has(I hope) changed there strategy. So I change my investment strategy.
Look at the board of directors resume's now. Mergers, reverse mergers, buyouts, cooperate taxes, on and on. All of them including the new addition Jackson who brings his own expertise in financing.
It looks like to me they are focussing on a buyout.
I can invest in that, they are doing what they have done before and should get the best deal they can for shareholders. Just let them do what they know how to do and it's not mining, its financing.
On top of that they spent what little money they had to own 100% Bueke and Tedolyne. So, if you want to deal on these properties, your dealing with Lico period.
As far as I am concerned focus on a buyout, do the bare minimum to keep the offices open for business. You do not need big financing to drill for Glencore. Forget about Glencore, they just want to buy in after all the heavy lifting. Ridiculous.
It is easier for me to invest when I know what I am investing in. Not wondering if I am investing in Cobalt, Lithium, explotation company, mining company or who knows.
This could be a great investment if Lico focuses on a buyout or takeover.
IMO they have the right people in place to do exacly this.
For investors, buyouts always come at a premium. Lico who has some premium high grade properties bar none (believe me I checked). Look at this way, may not be now, but I believe will happen, 45million is not out of the question for not 1 but 2 premium properties 100% owned by Lico if management does what they have all done before.We should all do good.
I don't know how Wango picked up on this but yeah, with Melrose gone and Lico seemed focussed on a buyout I did invest. I figure that the SP has stabled off quite nice and not outsmart myself looking to save a penny. If management does what they do this should be a nice return.
Fernbeck, with Melrose gone, has the team he wants with one direction, I totally blame Melrose for that retraction that killed momentum of the stock and the downward spiral that commenced. 30 years experience just flushed down the toilet.
Eg, just because you may be an expert at pumping out ponds, you still hire an electrician to wire your house.
Fernbeck, I believe is finally in his wheelhouse.
Since I'm ranting.
FCC. Speaking of focus
You have a fully permitted mill that needs about 80 million dollars to upgrade. So, out of the blue, you agressively take out a low grade project in Idaho.???. If you need for whatever reason to upgrade your resources, why not look at your neighbor who has the highest grade properties in the world. Buying out Lico is understandable, low grade properties in Idaho are not.
ECS. When I bought last summer on the business plan, they would be close to production by now.
But no, after the feasibily study they decided to change the "flowsheet" from a final product to a "upstream product". This "flowsheet" is actually a major business change. You need a new feasibily, change purchase orders, ETC. Have you really saved any money when you have delayed production by 2 years.
Not just Juniors, what in the h*ll are the majors doing.
Glencore already has there foot in the door in the Ontario Cobalt region. So instead of screwing over a little player like Lico, why not really invest. Buyout FCC with there mill, spend the money to upgrade, buyout Lico and send Lico's HG ore to the mill. In 3 or 4 years You have right there a 20 yr solid supply of cobalt right here, right now.
ECS. Only fully permitted mine in North America. Why would no Major look at this and with the 21% tax rate right now in the US,really not think that this is a good investment.
Anyways, Finally. Posters have complained that I post here when I don't actually own the stock, that was true.
First of all, I seldom post on stocks that I own for whatever reason, so you will no hear much from me now.
Second, you don't get much from most forums, your really do from this forum other from cross overs from the Yahoo board. There are intelligant people on this forum.
Eg, I never even thought about cobalt recycle, now I find myself looking into comapainies that may recycle cobalt. All good and it came from "out of the box thinking" Not the familar $1 dollar by christmas or "going to zero next week." I have no time for that.
I am also invested in FCC and heavily in ECS and recently in Lico so I don't think that I am killing capitalism BTW.