Ann: Fourth Parcel of Lulo Diamonds Sells for A$2.9 Million, page-207

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chrome033

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25/05/15

06:11

Post #: 15341932
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Originally posted by sparegunner ↑

GEEZE ARIES, STOP IT... just look at page 7 of the 2014 Annual Report ... here's the relevant excerpt if you haven't got time to find it... plus I've highlighted it for you in a bigger font.

Under the agreements, Lucapa retained a 40% shareholding in the new mining company and remained sole operator of the Lulo
diamond mine.
Key points of the mining licence agreements include:
• An initial 35 year term, the maximum period under Angola’s new Mining Code.
• Rolling 10 year extension options.
• Ability for Lucapa to repatriate its share of dividends and capital gains.
• Ability for Lucapa to be repaid all past and future alluvial exploration and development expenditures from free cash flow distribution.

ABILITY FOR LUCAPA TO BE REPAID ALL PAST AND FUTURE ALLUVIAL EXPLORATION AND DEVELOPMENT EXPENDITURES FROM FREE CASH FLOW DISTRIBUTION.
• Favourable tax and royalty regime including 25% corporate tax rate and 5% royalty rate.
• Ability for continuous mining operations.
Securing the mining licence was a key part of Lucapa’s strategy to generate sustainable long term cash flows from diamond sales to fund ongoing mining exploration programs to find the primary kimberlite sources of the exceptional Lulo alluvial diamonds within the concession.

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Thank you, good work.

LOM Price at posting: 22.0¢ Sentiment: Buy Disclosure: Held
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Ann: Fourth Parcel of Lulo Diamonds Sells for A$2.9 Million, page-207

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Ann: Fourth Parcel of Lulo Diamonds Sells for A$2.9 Million, page-207

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