Gem diamonds has a market cap of just over 380 million Australian and holds 70% of the letseng mine that is valued at about 20 billion,they also have interests in a few other lower value mines.
Lucapa holds a 30% interest in the L259 pipe that is recovering diamonds larger on average and averaging 5 times the grade of the letseng mine in the Alluvials while the L259 pipe is currently about 30 times larger.
It is just absolute madness to think that L259 could be worth 5 times grade(20 billion)then 30 times that in size.
5 times 20 times 30 just makes your head spin,even faster if the pipe ends up about twice that size.
IM very happy that Lucapa holds 30% of that potential.
LOM Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
