Post by
doingthejob on Jul 18, 2010 11:16pm
Shallow/Simple/Stupid LBE Shareholders
What is it that you inept LBE shareholders do not understand? JJ keeps its options open for its own gain! And so they should, they negotiated the "rape" terms with Dr. G. Nash to ensure that they get paid at the tune of approximately $1.6 per year in direct interest for the "preferred shares" should there be no significant discoveries, or exercise the option to attain 76.3% ownership in LBE should they get lucky and strike a deposit big enough to buy out the "preferred" shares. What should be obvious, is that JJ is not quick to exercise their options and should there be no such strike in the next 3-4 years, intelligent investors recognize that LBE shareholders are done! Legend's "blanket" $4.50 cost per pound of NI, without taking into account the NI grade of the mine, the extraction method (and associated cost), is one that is so simplistic, it is embarrassing to any credible shareholder. JJ set the threshold at $7.00 per NI pound where the business case becomes viable. But Legend, his reckless pumping of this pig, which is evident to all, is one that leaves him the laughing stock of the investment community. He is nearly as sad a case as Millwright!