The positive here is the high number quality stones recovered from this alluvial site BUT clearly the JV need to get the stones to market asap to replenish cash.
IMHO the SP of LOM will retrace back to ~ 8 cents when the 2021 loan repayment is received in Australia & uplift when the next loan repayment and dividends are here.
NTA is circa AUD 118.9m and 8.25 cps (MC is ~ 37% lower) & I expect that diamond sales will accelerate in the 2nd half & FY22 results could equal or better FY21.
Retracement in SP to 10 cps late 2022 is possible.
LOM updates must flow more regulary given the high expectations set with diamond recoveries/auctions, bulk sampling and remittances.
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Price($) | Vol. | No. |
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