Did see that announcement however they did say "restricted" which I presumed to be still mining but at a lesser rate. I am only suggesting they could have said "due to heavy rains we have been unable to mine at all in block 8 and 6 and instead we have decided to test and mine the alluvials in block E46 until such time that we are able to re-enter the other blocks". They would have known that at the time of the announcement so why not say it. The only reason I can think of is that the market may not have been quite as enthusiastic at that news.
As it turned out they found gold, well quality diamonds anyway.
Hi Akrotiri,
I didn't say it was a bad announcement. It is good news indeed, another piece to the puzzle so to speak. However the reporting of activities is scatty sometimes. They seem to jump all over the place with their activities. Some would say that is quick reactive thinking, others might say it is like a girl in a dress shop - don't know which way to look next!
At least this announcement has said they will shortly be scaling up the mining at blocks 8 and 6 when the weather allows.
Some will say I am pessimistic which is fine, however I just want to know what they are actually doing - that cannot be too much to ask.
LOM Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
