Your caution I agree with. But it is not the case that Merlin...

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jefferies2

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19/10/22

19:07

Post #: 64285352
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Originally posted by bj789: ↑

I just came across 'toptrades' post giving advice to new LOM investors - here's another perspective...

as a very long time smallholder I would say don't touch LOM with a bargepole.

LOM is a follow-on company from Lonhro's failure at Lulo about 15yrs? ago.yet LOM with more than 100 supposedly identified Kimberlite sites is yet to succeed in establishing even one commercial Kimberlite. How many drilling campaigns have LOM ever conducted? hardly any except for the one they attempted to test with little more than a post-hole digger. How's that for a laugh?

Further to that the Angolan government has a stranglehold over LOM. LOM doesn't even have control over its own finances! the Angolan government doles out handouts to LOM for alluvial diamonds discovered by LOM, and sold years ago.- imagine that, a company supported solely by its own shareholders are captives of the Angolan government who handout LOM's money to LOM at their discretion. The world has gone mad.

The only peopole who have profited from LOM in 15yrs are company directors and Angolan politicians and adminstrators who continue to line their pockets with LOM shareholders' money.

In the interim, to try and free themselves from the Angolan yoke, LOM has diversified into two other disasters, Mothae and Merlin. Mothae's former directors abandoned it after their assessment that Mothae would never make a profit, so LOM charged straight in and bought it. Merlin similarly has a disastrous track record and again LOM charged in and bought it.

So, Lulo which years ago promised the earth has achieved nothing but keeping its head above water, and the other two 'prospects' are not likely to be successful either.

My take is that if you wish to "invest" $500 for fun then go right ahead and buy into LOM - though buying $500 worth of Lottery tickets would probably get you better results.

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Your caution I agree with. But it is not the case that Merlin has a disastrous track record.

The cheating previous owners never left the starting block.

LOM Price at posting: 5.3¢ Sentiment: Hold Disclosure: Held
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