Ann: Investor Webinar Presentation, page-38

Yes, that makes a lot of sense and has been mentioned by several posters in the past, myself included.

I’ve got a bit of time on my hands over the next several weeks and I’d like to take this opportunity to update and host Lulo kimberlites plotted on GE.

The sheer number of kimberlite targets can be difficult to navigate, especially for our newer shareholders. It is for that reason I have kept a graphical track of our progress.

Now that we’re running the KBSP 24/7, the turnaround times for testing each bulk sample has been reduced from 21 to 10 days.

Once a source pipe is located, we are now setup to expedite the extensive testing the pipe will need. The majority of that testing will be done 24/7 and onsite. JORCing up a Type lla pipe can be tricky due to the irregular distribution of diamonds, but more about that after a discovery.

Just a few brief words on SW.

We all have our reasons for liking or disliking an MD/ CEO, that’s our right and I do respect the opinions of others.

I could probably sum up my thoughts of SW by referring to him as Mr Diamond. Globally, he is respected amongst his peers.

I’m not going to stir up an argument here, but in my opinion, SW joined the company as if perfectly timed. He didn’t just work hard, he was passionate, dedicated, innovative and worked smartly. He didn’t just advanced our assets, he transformed them.

Shareholders wanted an Australian asset and we now have two.

I’ve read a lot of criticism here about the acquisition of Mothae. The board couldn’t have predicted COVID, but that aside it’s now trading in the black. I’m still waiting for a big stone to pop out and when that happens it’s likely to add a couple of zeros to our profits.

If you had a chance to look at the charts I hosted the other day, leading into and out of COVID the pattern is mirrored, so that in itself is leaning towards the assumption that no matter who was doing the top job, the market did its thing.

The (real) diamond market has made a remarkable recovery, especially the higher end stones, however we are yet to see that follow on to diamond equities.

The Russian invasion of Ukraine can’t be helping. There is, of course, the uncertainty of a recession in the US and there are many economic uncertainties here in Australia.

There is no doubt that when it comes to share price performance, the buck stops at the head man, and that is (was) SW.

I do hold a decent parcel of shares, and like many here, I’m down a fair bit. I did take advantage of the recent lows by more than doubling my stock, so It won’t take much of a push in the sp to see me back in the black.

I’m sure most here would agree that diamond equity investing isn’t everyone’s cup of tea. The commodity is complex, the index is complex, sales is complex and the search for an economic kimberlite is, without a doubt, the most complex of all, let alone a Type lla pipe.

With all that in mind, the bar is raised when the diamond assets are in African countries. For an Australia company operating in Angola, Kingdom of Lesotho and Botswana, the board and foreign staff need to be aware of, and respect that country’s culture.

We have a very strong board and senior management and I’m confident they’ll find someone to carry the baton. I’m honestly grateful that NS will be remaining with Lucapa.

Behind every successful leader, there’s a right hand man, and for SW it was NS.

Of course, the same applies to the fairer sex!