RE:mineralized CorridorThat's absolutely right tuscanybound and consistent with what other members of this group, as well as Roger has posted.
That begs the question of why, given that LME should be worth something north of $30/share on a buyoout, the stock price is languishing at around $1/share.
It seems clear to me that the Board is not interested in releasing any info, or taking any other action, that might lift the price to something that would be more consistent with its true value.
Why would that be? I can only assume that, for stragetic reasons, they want to keep the price low until they can announce a buyout.
It may have to do with their negotiations with a buyer; it may have to do with personal tax planning of the insisde group; it may have to do with pricing options.
Thus, contary to what was suggested, we don't really need a higher price to make it more palitable to the acquiror. I never bought into that theory to begin with, since the value of this company is strictly based on the value of its assets, and nothing to do with the trading value of its stock. What would happen if LME was a private company (which it practically is)? Presumably, the value would be the same even though no trading value of the stock.
The encouraging thing about this whole scenario is that, I think Cynthia wants to keep the shareholders happy. Since she cannot/will not do that by releasing assay or similar results that will bump the stock price, she should be motivated to deliver news of a BO ASAP. The troops are getting restless!