Thanks 1S1, that's great, good to hear that others were thinking along the same lines. One thing that always puzzled me was why L259 was low-magnetic while the rest of the kimberlites weren't. The first phase of identification was the aerial EM survey all those years back which would have picked up the high-magnetic kimbos but would have missed the low-magnetics like L259. That's why L259 was hidden for so long. After some research, I found out that kimbos lose their magnetism as they get deeply weathered and to me this makes them more important. Why? Because as they get weathered, they shed their diamonds and indicator minerals. Therefore, the diamonds we find on our lease are more likely to come from the deeply weathered kimbos (low magnetic) compared to highly preserved kimbos (high magnetic). LOM's more recent methods of "following alluvials to the source" and using gravity surveys is proof of their improving tactics as they pick up low-magnetics. Due to the wet Angolan environment you mention, there is a high chance that there are more deeply weathered low magnetic kimbos out there like L259 that are waiting to be discovered. And based on current targets, I think L259 is by far our best prospect, it is our flagship kimberlite.
LOM Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
