LOM did just release their HY report. The book value was equivalent to about $0.35 per share, it may have been adjusted down following the ‘divestment’ of Mothae but that would be a marginal adjustment. From memory Mothae had a book value of ~ $2.5m.
I find it hard to believe the Top 5 have not been involved in the latest downtrend in CY24. Sellers have been controlling the market. Orders are generated and purged at the end of each day, offscreen selling has been evident as well but it looks to me like a coordinated effort on the part of a major shareholder/s to exit - and I think it has been this way for many months.
Anyway my musings only - I could be, and probably am, totally wrong. That would be fitting given my investment record - particularly in LOM.
I do think this is hugely oversold but my opinion is meaningless. I’m interested in the actions, strategy and communication from LOM - and anyone’s guess what to make of that. The silence is telling, IMO.
LOM Price at posting:
3.8¢ Sentiment: None Disclosure: Held
