Funny you should mention that 1S1. My son is Pokémon mad and I’ve been matching his Pokémon purchases for a few years now. He buys, I buy. We’ve accumulated quite a collection and seem some terrific appreciation in what some of the items are selling for. Pokémon’s been around for an eternity and the demand is stronger than ever in fact many of the specialty Pokémon items these days are pre-order only and sold out before they hits the shelves. Don’t see what the fuss is about personally but hey….. why not.
I also attended today’s meeting, without my rose coloured glasses on and although I don’t really have anymore to add to what Timmy already has I did come away still very much satisfied with my long term investment in LOM. We have top notch projects, top notch management and I think now that we seem to be over the worst of COVID our future is looking as bright as ever. Our management seem to see opportunities that others don’t. They have the experience and knack to make projects viable where others can’t. While most players within the Diamond space are still licking their wounds after dealing with the pandemic related issues our management are in acquisition mode, probably the best time to acquire assets if armed with the right knowledge, creativity and the ability to raise funds. Ballsy move indeed and not without risk but will fortune favour the brave? Hopefully. Both Miles and Steve did emphasise just how difficult this COVID pandemic period has been, and how we really only just managed to get through it, many didn’t. I tip my hat to management for successfully navigating through the many challenges, all the while keeping some 650 odd employees in jobs, amazing effort. Post COVID our operations are back into full swing, Diamond prices and demand are on the up and we now find ourselves in a position where the future of LOM has never looked brighter.
One thing from the meeting which surprised me a little was the long timeframe of approx 2 years to get Merlin into production. I thought it would be quicker considering what we managed to achieve at Mothae in the timeframe we did. I’ve since been thinking about this and wondering whether this long time frame may not be necessary but strategic. What will be the status of Lulo and Mothae in 2 years, will we still have them in 2 years or would we have wrapped them in a bow by then? Remain focused on our two production assets for now, optimise both mines, sell them off and then get on with Merlin but in a big way! Just a thought and could be totally off track.
Happy holder. Good luck all!
LOM Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
