We are a substantial holder in LYN with 7.13% of the company. We Invested in the 10c pre-IPO, at the 20c IPO and again at 40c. Our average entry price over the last 18 months is 25.6c.
There are still at least three months before any drilling will take place (from the time of publishing this memo) - leaving plenty of time for a “pre-drill result speculation” price rise to creep in and probably also a few quiet periods where the share price may drift down.
The key goal is to hold a material position for discovery, but if the share price is trading at over $1.20 in March/April next year, we will consider selling around 15% of the position to de-risk, claiming some capital back for tax, operational costs and new investments elsewhere which is our general model.
Also see our trading policy here