Ann: Annual Report, page-17

The annual report seems to provide the only useful source of financial information.

Look at the quarterly report announced today.

'Cash and receivables (incl Lucapa)' as at 31/3/24 was reported at USD $3.4m. So that, I assume, includes:

1. Lulo
2. Mothae
3. Lucapa Corporate

The split of cash and receivables, and the split between these three accounts, is anyone's guess.

Also worth noting that Lulo sold USD $15m of specials in October, then a further USD $17m in December. It wouldn't surprise me if the Lulo account held the majority of that USD $3.4m.

Then, how the dividend of USD $10.1m is accounted for in the 'cash and receivables' balance at 31/3/24 is also anyone's guess. Opaque and unhelpful reporting would be an understatement.