LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

NEWS -GOOD? BAD? SO-SO?

[yoda2]

Hard to tell. Seems like good progress in development is being made, although nothing about short term production progress or profitability stands out. NR projects an upbeat tone but all LSG NRs try hard to be positive.  Cost per ounce of $1048 is down but still very high. While 2012 production guidance has been maintained it would have been very encouraging if even a small increase had been forecast.  Financing remains tight and the $70 million Sprott financing has not yet closed (late May mentioned). The use of $1650 for Au in the financial budgets appears  optimistic considering the current price of below $1600. Tomorrow"s conference will not likely add anything.