Ann: Results of Annual General Meeting, page-7

AGM continued from post no 25001724

Botswana ; only directly referred to the newly identified anomaly.
SW said, We are not going to die wondering why previous owners did not identify
it or drill it.....we are going to find out with a drill bit what the storey is.

Myles by his own admission is very excited about Ellendale and is itching to get back
up there to his home ground. In convo with SW later I mentioned a friend has just
gone FIFO Argyle which surprised him that they’re continuing. He hears mixed stories.

Mothae The last slide presented was of Mothae covered in a blanket of snow......
knocked me for six. 10,000 feet above sea level! We are holding concessions where
theres cyclones, hot dessert, snow, rainy wet season, flooded rivers....got it all.
Turns out Nick, the engineer Neil, SW have all worked in Lesotho and are familiar
with Mothae. As well, Myles has been a High Court Judge there as well.

They put 5 months of “we have got to get this right” analysis into selecting Mothae
then when we put our bid in got told the Russians had got it. Then , on the 23rd
of December, SW got a call saying the Russians had faultered and he should go talk
to thee Lesothons. Zoom he was off and back for Xmas. Not long after, Myles
clinched the deal and we plan to pay off one of the richest diamond mines in 18
months. As well, we get a free dig at 400.000 tonne that hardly requires any energy
to process as its all done.
In 13 years its estimated we will clear $248 million from Mothae , $219 clear after
restoration of the minesite.
With the 2 planned Mothae mining pits, there has been no allowance for the fact
that the “neck” in between will obviously have diamonds in as well.....bonus.

SW spent a minute to explain his Sensitivity Graph. I had never heard of one this
morning and now I will attempt to explain it.
Nah....Too hard. Suffice it to say SW claims that no matter which aspect might fail,
and even allowing multiple fails, the model any way you cut it worst case will still
produce a Mothae profit.

Staff comments;
I heard Myles Kennedy state that he had been a Mining Director all his adult life.
MK states in all that time he has never seen any director ever have a better work
ethic than SW.
As well, one of them stated that the highly experienced team of talent that Lucapa
have assembled would easily be the best in Australia.

DD general comments;
Regards to Insiderunner for bailing up Stephen and Nick etc and introducing me to
them and others.
I was very impressed how many lucapa staff they had there and all contributed.
Even more impressed to see Westar, who paid the Millions to us yesterday turned up
like they were family.
The Lucapa Management all seemed to be infected with a real ‘can do’ positivity
and invited interaction from the shareholders. Being led by such talents could only
inspire the best out of the team and I for one am happy to be on board LOM.
Yes, well underwater now but these guys are the deal and I am convinced they will
bring this plan together , dam the river and float me back above water and some.

You want a punchline??!! I heard it said in general after meeting banter that SW has
bet Myles he can have Mothae in Lesotho producing Diamonds in the first Quarter of 2018!

Please, none of this is financial advice, just meant to let those that could not make
it appreciate a few bits not in the official issue. Miss you bungy. Regards.