Our $37M we got from the sale of the kurdistan property is now down to $26M of working capital for LFD. Slip sliding away. Down $9M so far. Who says the new guys are any better than the old guys? What was the only thing they did this quarter at LFD? Buy stock in DSM so they could take control of DSM and pay themselves more money. But what about the value of the DSM stock that LFD now owns....down, down, down. These guys are a self serving bunch.
LFD - During the three months ended September 30, 2012 the Company’s only investment activity consisted of an arm’s-length acquisition of common shares of Dacha Strategic Metals Inc. (“Dacha”), a company which seeks capital appreciation through the buying, holding and selling of strategic minerals and rare earth elements. The value of these shares at September 30, 2012 was $1,402,115. The shares were acquired for investment purposes, with the approval of Longford’s investment committee, and at the time that the investment was made none of the directors or officers of Longford were insiders of Dacha. On November 12, 2012, Dacha announced that it had agreed to the reconstitution of its board of directors. Mr Peter H. Puccetti and Mr. Ian W. Delaney, the CEO and Chairman of Longford,
respectively, have been nominated as two of seven potential directors of Dacha to be elected at a shareholders’ meeting of Dacha to be
held November 28, 2012.