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7/24/13

Lydian International (LYD.to) and a News Release interpretation pro-tip

Here's the NR linked.

And here's the pro-tip: You never want to see paragraph two of any junior mining news release begin with the word "however". 

The bid was at $1.42 when the news hit, let's see how things get on during the day. Full disclosure; no position in LYD.to, though it's been tempting to go long on occasion because people who I respect are long the stock. On the other hand Louis James also likes it, which counterbalances the opinions of mining professionals to a certain extent.

UPDATE: Half an hour later...



Oh dear. However...

By the way (I've been asked by mail this morning), the reason I decided against going long LYD, great rocks or not, is that i didn't understand the pol risk. Yup, got that one right.

UPDATE 2: Another hour goes by and, well, not going to upset you with the chart again, but....ouch.

However...