Hi all, This will be the first time i have posted on Hotcopper under this name. I Thought i would seperate my real name (which is my other hotcopper name) with a fake name...parden the pun with this name but we all need a bit of a laugh.
I have been watching LOM shares for well over 3 years and have held atleast 10million stock at a time. I have 2 trading accounts one in which i trade with and one in which i hold for long term. I have more than the 15 million i purchased today.
I would just like to say this is the best time to be involved in LOM after all the years of planning and inadequate funding to drill now is the time to be in and to hold for atleast the next year. I have no doubt in the world that Miles and Co will find an economic Kimberlite and that we will all be in the money. The one thing i am scared of is that we will get taken over at a price north of 5c but less than 10c which is well below what i believe the company can reach.
I know people say that there are a lot of shares on issue (which is true) but when something big occurs Institutions will take a look at LOM and will invest heavily. This stock will transform from a classic "pump and dump" to a stock in which wont be able to get munipulated because shares will become more tightly held. The only risks i can see in LOM is if the are unlucky enough to drill the wrong hole early and raising capital will be an issue at a lower price than expected. But seriously people of coarse management want a capital raising at the highest price so there will be plenty of announcments between now and November. I have talked to Miles about the issue and he is confident that we will not need to raise funds at a low price. I also spoke to him about the idea of getting a loan against the diamonds they have found, he was hesitant about this as interest rates could cripple the company if the unforseeable was to happen. Miles is a trustworthy character and will take this company a long way and with the help of Gilchrist you have an A-Grade team right there!!! I will be holding all my shares now as i dont believe i can win on trading them anymore as i dont want to miss the boat this time around. It was different in the past but i believe the wheels have turned and we will all be praising the LOM team in not too long. Im guessing we will get an announcment of the arrival of the final bit of equipment and that drilling is under way which should see some short termers try to quickly enter. My guess is we will be around the 1.5 - 1.7c range before an announcment of the Kimberlites are made. DA
LOM Price at posting:
1.2¢ Sentiment: LT Buy Disclosure: Held
