Ann: 100 Plus Carat Diamond Recovered at Lulo, page-62

Well there is no doubt long suffering holders do deserve a break and hopefully this will be the year they get it. Barring another Covid or other unforeseen global setback 2021 you would have to say does look promising. The debt I believe can be contained or preferably extinguished with the upgrade and promising results from Mothae and the ongoing exceptional results from Lulo. I would not be surprised if at some stage in the near future we were to find a stone larger than the 404 not to mention the Pipe/s that produced the monsters.

Apart from the repatriation of funds and the % ownership issue at Lulo which hopefully can be resolved over the next twelve months the Elephant in the room for me is Merlin. Let's face it if we are successful in acquiring it it's going to cost money we don't currently have. So unless LOM can do some sort of long term payment strategy you would think if a deal were to be confirmed in the near future it would require a cash raise and more dilution. I would imagine in Australia the cost of even a very small start up would be significant. If we are successful the deal better be very good or there's going to be a lot of very disgruntled holders.

Status changed to Hold for now