An extremely impressive outcome for ramp up stage production only - very few diamond players in the past have received results like this so early on. The weaker AUD makes for an impressive outcome - $3.8m US = $5.3 AUD. So nice exchange rate tail wind there.
Just some basic maths, let’s guess we’re small profit at the end of the day - just from the sale of the roughs...that means that when Mothae starts pulling specials - that’s all profit. Interesting thought.
Back at home we’re 18.5c seller, not justified, but it is what it is. Unlocking a companies full potential takes time, the LOM team have done an impressive job re: Mothae, and also Lulo. As a big picture question one has to ask; in the diamond space how many producing mines does one need to realistically make a listed company work ? as a guess this last question that I have put forward will probably be the theme for 2019 in the diamond space.
Have a a great week LOMers, tough day today, especially with an impressive rough diamond sale outcome.
Ann: Mothae Diamonds Sell For A$5.3 Million, page-12
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