It means that virtually all holders of LOMOA options have now paid the 1c exercise price before expiry to covert them to shares. About 10m remain out of 400m plus. They were well in the money anyway with a share price of 5.1 c yesterday, the closing date; but it is still a vote of confidence by holders. And, more importantly is a source of funds to continue development... buying X-ray spectrometry equipment to speed up the alluvial sorting; and next year contracting out drilling the kimberlites which is perhaps where the best long term prospects lie.
LOM Price at posting:
4.6¢ Sentiment: None Disclosure: Held
