So here we are being asked yet again to hand over our hard earned money to keep the company going and to keep up the Kimberlite hunt. Oh what joy. Yet as unhappy has I and probably every other shareholder in Lucapa is about this I will be taking up the offer. So why. recent history. - Lucapa decide the best way forward is buy lots machinery dig up has many diamonds as possible and pay for the Kimberlite hunt out of the now increased cash flow. (Sounds like aplan what could go wrong) LOTs of rain Not to much of a problem. Rain stops get digging maybe a bit faster. - No strike at mining camp. Solve strike, nothing can stop us now - Then we get to the Virus. Nobody saw that coming around the corner. Mining at both mines shutdown although Angola starting to open up again. So where are we now. Sitting at the bottom valley looking up a hill thinking I bet those diamonds washed down from that hill. So why you don't management just get their bucket and spade. Go up the hill dig a few diamonds out of the kimberlite targets and happy days we will all be rich. IF only things were that simple,they will need to build roads and move a lot of drill rigs and equipment. They could just not have a right issue keep mining the alluvial diamonds, wait for the cash to buildup and then go hunting for kimberlite. So its a question do you what wait years or with a cap raise maybe only months. Is there a guarantee that if they get the money that they hit a kimberlite. No nobody could give such a guarantee. But odds must be a lot shorter than people here are making out. Any Geologist worth their salt would say it is possible at all the diamonds have washed down hill but its petty small chance. You could just not put in money and wait and hope or not put money and hope to buy into a cash strapped company at a lower price (Which don't sound every smart) .or take up the offer at 5C with the option into a company with at least 8m in cash (3m just raised plus this rights issue 5m). That cashed up company will then be in a very short space of time will be going after some of the best Kimberlite targets around. Best of luck to you all. PS. Yes I my a large share holder so yes there is self interest in my up ramming but I've been here before. I followed Miles Kennedy to a great win on Kimberley Diamond which was a 16 bagger. Kimberley diamond was only finding 10 car diamonds and it still went north big time. It took years for Kimberley Diamonds to hit but they did it was well worth the wait.I'm sure Steve , Miles and Ross would just love to show the world what a great Diamond find really is. They cannot help themselves mining its in their blood.
LOM Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
