Ann: Lulo Alluvial Resource Update increases carats by 9%, page-5

Yes, this is how many of us in Australia think...
How Angolan government thinks is 34 YEARS of civil war (imo my dd)...
that deep engrains mindset and behaviour of some people and LN is not capital city.
Respect where it is due... Dundo now as a regional center, should help & guess SML is now paying more than US$500k pa regional security contribution? Would be sensible if investors could understand the cost structure of SML but the mindset seems to be "its about same as last year per m3, so leave us alone" (less revenue per m3 = not talk about downside for 1 year of many year operation) or want more then things escalate in cost.

Thank you to Cabinda Refinery (part of Angola) for the local diesel... would be nice to know we now land at mine cheaper? Why is a few routine facts so hard to emerge from Angola or SML / LOM... the distraction of Motheo is long gone.

25,000 carats mined pa for this many years of activity (experience) is not what most would have expected with competent machinery and plant operators, well paid over 400 locals?

Although an annual update end Dec-2024 is sensible business practice... why issue any Analysis (that costs money to generate on drill facts & modelling assumptions) until the MIC is "locked in"? Really access since May 2024 was not "formal" or guaranteed going forward.

We do not know the conditions / criteria.... so what is the 12 months ahead likely mining cost relative to last 12 months per m3 handled and total cashflow planning?... now mining lower content dirt at lower modeled sales price. Perhaps this is great news for the local workforce seeing we have additional 800,000 tonne to mine = job security for them but lower operating profit margin for SML. So cheer them up whilst curtailing any profit, let alone dividend expectations on "investors"... really people who have donated money in past and hope for something back.

It would have seemed MORE professional and more astute if LOM also mentioned KP Country of Origin = "Angola" has been digested HOW by Antwerp market after about 3 months of NEW RULES? (Any "payback" for what amount of land mines cleared in last few years).
If Angolan labelled diamonds are DISLIKED for some workforce "ethically paid workers" logic then that will affect MODELED income to apply on this update that is only relevant for 1 year... important to regularly update.

Personally seeing a smaller stone size average, is painful given the many elite specials we STILL recover... Some mention / respect that our top 10 stones sold in CY2024 was X carats for Y% (maybe 60%?) of revenue would better reflect Lulo's selling reality. In years past smallest stones went to WASTE, this statistically increase the AVERAGE stone size. SML does not want to be viewed as short term opportunist or cherry picking data so assist yet another cap raise, rather a log term serious producer (imo).

GLTA... waiting on MINISTER to finalize MIC wording and President, cabinet / legislature to "rubber stamp"... the legal importance of a Gazette NOTICE!