The "untruth" that there is no other source of income is not an untruth at all.
Lucapa, the Australian entity has received $8.3 million in a "special distribution" - which is fantastic, because it is the first revenue the company has received after nearly a decade in the country.
However, the "special" element, IMO, points to a "one-off" payment due to the nature of the find.
Lucapa, the Australian entity has no steady income stream and it's capital outlay will require further capital injections in the absence of additional revenue.
Also,
You do not drill a kimberlite to find a few 2a's, drilling is conducted to establish the case for a hardrock mine, there is absolutely no justification for drilling to find a "few type 2a's, it's a hard rock, commercial viable kimberlite or nothing at all.
LOM Price at posting:
42.0¢ Sentiment: Sell Disclosure: Not Held
