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7.0¢ lucapa diamond company limited

Ann: CEO's AGM Presentation, page-128

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jefferies2

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16/06/24

17:08

Post #: 74339291
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Originally posted by Cridz: ↑

Joergwerde, I don't believe your Merlin summary is reflective of what occurred.

Rio produced over 500,000cts in around 4 years of mining (2000-2003).To put that into a Rio perspective at Argyle peak production 1 mill cts a week was not uncommon. Mining scale, diamond pricing, and more difficult mining, all lead to Rio offloading Merlin.

Striker took over Merlin 2004, they were mainly interested in the tailings, they produced a few thousand carats in 2005 and 2006, I believe most was either Tailings or some stockpile.

Things got messy with Striker becoming NAD and Gutnick getting involved, somewhere along the line it became Merlin Diamonds (Full Gutnick takeover). There was some trial mining from 2010 to 2018, this involved some whacky mining techniques with suction pumps and mechanical grabbers. There were a few diamond sales during this period and it went into receivership around 2018, I could go on for hours as to why.

Also the diamond prices in current markets are likely +US$250/ct not $100, predominantly white and brown diamonds with the occasional Fancy Yellow.

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Were there pockets of diamonds, or at the end did diamonds go into pockets?

LOM Price at posting: 6.8¢ Sentiment: Hold Disclosure: Held
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