Reading an old Hartleys report where they put a target price of 49c on LOM. The basis for this valuation was the sale of 15000 carats at $1700 over 12 months going forward. The expected cash flow from this assumption was $25million. This was just from alluvial mining with a slight chance that in the future they may have JORC
In light of what has happened this quarter, $32million in diamond sales, drilling to commence to prove up a productive Kimberlite.
What price now?
LOM Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
