Hi Hamilton, firstly I am a holder like you and believe in the long term potential of the company. But I want to play the devils advocate here. I think Ghawk is entitled to have his opinion and ask questions. Referring back to your own post LOM is now cash flow positive. Would we have been cash flow positive without the placement in your opinion, ie would we still have found as many diamonds and have sold them for the same price without the placement?
Yes I know we now have extra equipment on hand but that is a recent occurrence and will only increase how cash flow positive we are.
I want to see the huge positive side of this thing because I own shares, but not at the excuse of ignoring any negatives I see as well. I personally feel that the timing sucked and if we could have waited until the announcements of block 8 plus sales we could have raised capital on a much higher share price; That would have meant less shares required to be issued for cap raising (with free options) which would have meant less dilution for everyone and a better share price for everyone - better still those sophisticated buyers would have had a reduced ability to bring it back down again if they decided to profit take on heads and converted oppies.
Also if that 7% holder still wanted their huge slice, they would have had to buy a lot more at the right price and more on market... so imagine where our shares could have been if that cap raising was conducted a little later on.
This is not a down ramp, I still think this stock has massive upside. But there are positives and negatives to consider with everything.
GLTA holders, lets see this thing run as the market gets an appreciation of what we have.
LOM Price at posting:
40.5¢ Sentiment: Buy Disclosure: Held
