"....and 30,000 listed $0.02 options which were exercised during the period."
At least they finished with a light hearted comment. Made me laugh.
I am a little disappointed with the progress of everything. I understand that the weather has slowed them down, but I too get the feeling they may have been opting for the convenient locations rather than the smart locations. The weather is not predictable, and with so much on the line they should have been looking to play safe with their target selections. Surely some areas are less likely to be effected by bad weather than others? Se222 looks like quite a low lying area.
I am particularly surprised that they then chose to sample Se223 when they state this:
"Se223 is a poorly defined magnetic target located about 2km west of Se222 (Figure 2) and close to Lucapa’s diamond processing facility. The anomaly lies within the area where magnetic data is considered unreliable."
Great that we can cross Se223 off the list, but surely the long delay in getting to this target was not worth it.
Risk:Reward???
It sounds like they almost knew there was nothing there before they drilled! I guess it is at least on the way to the next location.
After so many promising alluvial samples it is disheartening not to see results from the drilling, but it's very very early days here. I just hope they manage to stick to the timeframes they've stated in the quarterly. So far they have not been too crash hot with their time estimates. And if that DMS is not up and running at full steam in 3 months I'm sure many here will join me in flying over there and physically drag it to site and commission it!
Still very exciting times for LOM and the next target Se002 does sounds more promising. Lets just hope they have a bit of luck and strike some sparkly stuff!
LOM Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
