Ann: Seven Lulo Diamonds Sell for A$28.3 Million in Tender, page-28

50cents? When Mothae was purchased the price was around 40c so you are saying it would now be 25% higher.
Given the issues you have mentioned above with most of the money going back into running costs and exploration you would still have just 40% of alluvials and continuing exploration of one resource that may or may not be found.
Currently Lucapa have a hard rock mine an alluvial mine and a near term mine.
Share price may not be great but from a diamond point of view they are in a much stronger position to become a mid tier diamond producer with diamonds well in excess of world average prices not just a one trick pony!