Ann: Quarterly Activities Report, page-21

Microsoft Word - LOM Sept Quarterly Report _Final_ 30-10-14.docx

• Interim assessment and valuation of a parcel of 385.4 carats of unsold Lulo diamonds confirms 37% are rare Type IIa gems. Interim valuation for the parcel was at an average of US$1,239/carat. This includes a 10.15 carat gem valued at over US$18,000/carat

Doing the maths on the above,

LESS THAN 480 k .

For half the stockpile including the best gem!

And remember LOM has never received anything close to their valuations.
Look at the valuations from the first parcel for proof of this.

This whole report spells disaster IMO.