Ann: Loan Repayment Received Following Repatriation Approval, page-28

Surprised at the muted reaction. We have now received a dividend and debt repayment and no regulatory issues with getting the rest.

Angola is getting paid via dividends and we are getting paid so it's a great scenario for both parties. if Lulo continues to be profitable then ideally both parties are getting dividends yearly and the debt paid off in hopefully a reasonable timeframe. If say the Lulo Rose sells for $50m (I have no idea but around the mark from predictions) then the Angolans are clearly getting a good share of the pie and no reason for LOM not to received what's owed to them.

If we received the $31m owed to us and receive say $20m from the sale of Lulo Rose that's $51m in cash. While dividends would be nice no doubt those funds will be earmarked for Merlin development which is in a nice, safe jurisdiction.

If all this happens shareholders can kick back and chill with the upside of finding some massive kimberlite down the track.