Levon Resources Ltd (New) V.LVN

a potentially long wait

[cypress44]

A mining buddy said LVN are looking at the possibility of shutting the cardero gates if metal prices fail to recover and no decent offers appear on the table after the final resource assessment. Including the tax rebate of $4m, the company will be sitting on +/-$49m cash and are prepared to wait it out, which will cost little to do.
 
There is still interest from potential acquirers but it would not surprise me if there is some joint venture agreement, despite LVN not being miners. Either way it does not look good for shareholders in the short term, sitting on a dormant company, unless LVN can purchase a severely reduced mineral resource to work on in the meantime.
 
The only encouraging thing is that borderline mines are having problems at these prices and are starting to close. How long this takes to impact manipulated silver prices is anyone’s guess.  
 
Onwards and sideways